As the region's leading independent recovery and insolvency specialist, it is always rewarding when the professional advice and support we have given results in the saving of a business.
During the last six months BRI have been successful in helping to secure the future of various businesses, including Avalon Print, Decorative Industries, GHE Realisations and the Bronte Furniture Company.
We are proud of our successful track record in helping individuals and businesses to overcome the financial difficulties that they encounter. Fortunately the majority of individuals and companies pointed in our direction do not require our formal advice. This means that we cannot therefore mention all of those businesses and jobs that have been saved simply by having a free initial meeting with us. Thankfully for the above four companies they took early advice and by working together we were able to safeguard their businesses and save approximately 80 jobs.
Seckloe 233 Limited (Formerly traded as Avalon Print Limited)
Avalon Print Limited, one of Northamptonshire's best known printing companies, was saved earlier this year when the business and name were successfully sold to a buy-out team that included two of its Directors. ,
BRI were appointed to handle the company's affairs including realising their assets and dealing with creditor claims after the company went into voluntary liquidation. Fortunately, thanks to our prompt action and expertise, a positive outcome was achieved meaning that Avalon could be sold as a going concern, saving 12 jobs and with all trade creditors due to receive significant dividends. (maybe payment in full)
Dl Realisation Limited (Formerly traded as Decorative Industries (UK) Limited) Northampton based Decorative Industries (UK) Limited, a company in the research, development, production and supply of nail lacquer and associated products, went into administration having suffered a large bad debt which resulted in severe cash flow difficulties.
We were appointed as Administrators to ensure the company could continue to trade in order to preserve the business as a going concern. Thanks to our timely intervention, we were able to offer the company for sale as a going concern. After several months of continued trading, we are delighted to report the successful sale of the business. The sale will safeguard employee positions and result in payment in full to all creditors.
GHE Realisations Limited (Formerly traded as Gatehouse Estates Limited)
GHE Realisations Limited, one of the largest independently owned estate agents in East Anglia and the South East was a successful administration following BRI's advice. The downturn in house sales had caused severe cash flow problems, which were compounded when HM Customs and Excise presented a winding-up petition.
Fortunately, at this point, they approached us for help and assistance to ensure continuation of trade in order to preserve the business. By acting on our advice GHE Realisations' Directors were able to protect the assets of the company, thus enabling the business to be sold on a going concern basis and guaranteeing the future of the business and over 40 jobs.
Bronte Furniture Limited
Bronte Furniture Company Limited, one of Northamptonshire's best known bespoke furniture companies, has new owners after its business was sold in January 2005.
We advised the directors on the sale of the business and dealt with the subsequent liquidation. The successful sale ensures that the business and employees have a future.
How Does This Affect Me?
If you know of any business that may be in a similar situation and would benefit from our assistance, please contact a member of the BRI Management Team. At BRI we pride ourselves on offering the best advice and support, regardless of the fee outcome for ourselves. All initial BRI meetings are free of charge, completely independent, confidential and without obligation.
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