Fitout firm Corley and Woolley seeks to restructure


Fit-out specialist Corley + Woolley Limited appears to be ‘seeking a restructuring solution’ for the business. 

Credit: Corley + Woolley Limited.

The contractor appears to have recently filed a Company Voluntary Arrangement (CVA) application with the Companies Court. 

It is understood a Company Voluntary Arrangement provides a way for “companies in distress to pay off their debts over a fixed period of time”, and offers the opportunity to address issues surrounding management and operational systems that “were not working”. 

Or, in other words, a CVA is a procedure where a business is ‘seeking creditor support to keep the company active to maximise realisations’.  

This is very different to liquidation or administration which is not being proposed here. 

Legal representatives from corporate restructuring firm Begbies Traynor also appear to be listed in the public documents. 

Corley + Woolley, established in 2012, is a specialist interior fit-out and refurbishment contractor in the commercial, hotels and hospitality sectors, operating predominantly within the London and M25 corridor. 

Notable projects by the firm include One Canada Square at Canary Wharf, The Rosebery at Mandarin Oriental Hyde Park, and the ground and first floor of The Langham, London.  

Latest accounts to 31 December 2021 appear to show an operating profit of £574,071 (2020: £805,919) and pre-tax profit of £574,936 (2020: £817,088). 

Corley + Woolley did not provide a response to a request for comment by the time this article went to deadline. 

Begbies Traynor declined to comment. 

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