Caterer seeks court aid to keep trad­ing

The Jewish Chronicle - - News - BY LEON SY­MONS

A KOSHER caterer has taken an un­usual le­gal step to en­sure that he sur­vives the eco­nomic down­turn.

Stephen Wolfisz went to the High Court on Fri­day to com­plete a com­pany vol­un­tary ar­range­ment (CVA).

The caterer, whose offices are in Colin­dale, will con­tinue to work, but un­der the su­per­vi­sion of an in­sol­vency prac­ti­tioner who is ap­proved by the court.

“The whole idea is that I stay in busi­ness so that I can pay off the money I owe. This is def­i­nitely not liq­ui­da­tion or go­ing bust. I owe some money but it is not a huge amount,” he said.

“I want to pay it off be­cause I be­lieve in my busi­ness and I want to con­tinue. This way, how the com­pany han­dles the debt is con­trolled and means those to whom I owe money will be paid. At the mo­ment, my cred­i­tors would get 81p in the pound on their debts. But I hope that, through this ar­range­ment, they will get 100p in the pound.”

Mr Wolfisz said he had a strong or­der book for Novem­ber and for next year. He has also de­cided not to take any de­posits from clients who have booked func­tions with him.

“That way, my clients’ money is not at risk. In the past, cater­ers have taken de­posits and then gone bust,” he said.

“Their clients lost their de­posits then had to pay again with an­other caterer.

“Life is dif­fi­cult. Banks are cut­ting the over­drafts used to sup­port com­pa­nies and I know there are dif­fi­cul­ties in the kosher and non-kosher trade.

“I am con­fi­dent that I will stay in busi­ness un­til things get bet­ter.”

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