Hello MarkyB and welcome to the forum.
If the business is struggling to pay the company voluntary arrangement
(CVA) the first thing you need to do is talk to the IP who is supervising the arrangement. It may well be possible to vary the CVA so that the payments made into it can be reduced. The payment term could then be extended to ensure that the creditors still get the amount initially agreed.
In most cases this is a far better solution than allowing the CVA to fail which could result in the company being wound up and the creditors receiving far less.
If you require further help or advice on any company debt problem do not hesitate to contact me at Company Debt Advice
Tel - 0800 180 8440
E-mail - firstname.lastname@example.org
Thanks for using this Forum. Keep Posting