We have offices in Northampton, Banbury, Coventry, Hitchin, Milton Keynes, Southampton and Spalding

BRI Business Recovery and Insolvency

We are an independent company of insolvency practitioners committed to finding the right solutions for businesses and individuals in financial difficulty

News

  • Formal breathing space to be given to struggling debtors

    19 June 2019:  The Government has announced proposals to help those struggling with serious debt by providing a new two-month “breathing space”, during which they cannot be pursued by debt collectors and bailiffs.  Those eligible will also see interest, fees and charges frozen.  All contact with a debtor relating to…
  • Company in distress (but what about me?)

    13 June 2019:  If a company is insolvent, a director has a fiduciary duty to act in the best interests of the company creditors. Human nature being what it is, this doesn’t exclude the director from feeling a sense of ‘but what about me’? First and foremost it is worth…
  • It has taken a while but creditors receive a significant return…

    3 June 2019:  BRI Business Recovery and Insolvency’s Northampton Office is to shortly conclude the administration of a very complicated and time consuming creditors’ voluntary liquidation. Having been appointed in early 2014, BRI are pleased to report that asset realisations have been such that unsecured creditors will receive a total…
  • Loan charges – warning – HMRC takes action

    23 May 2019:  It has been reported that six people have been arrested over the promotion of fraudulent schemes that were designed to avoid paying loan charges. Disguised remuneration loans received by employees that remain outstanding on 5 April 2019 are known as loan charges, on which HMRC have been…
  • 120 jobs saved with CVA approved by 95% of creditors

    14 May 2019:  BRI’s Coventry office achieved recent success in getting a proposal for a Company Voluntary Arrangement (“CVA”) approved by 95% of creditors.  The company in question is a large local employer with a sound reputation and excellent prospects.  The company faced tough trading issues following a downturn in…
  • Company insolvency statistics – Q1 2019

    2 May 2019:  The Insolvency Service have released the above and below is a summary of their findings: The total number of company insolvencies were 4,187, up from 3,983 for the same period last year. 67.4% of all company insolvencies were creditors’ voluntary liquidations with compulsory liquidations accounting for 19.6%, these…
  • HMRC with the upper hand

    24 April 2019: HMRC is claiming the direct recovery of debt powers (granted in March 2016) to recover money owed directly from individuals’ bank and building society accounts have raised £178m of tax revenue between April 2016 and December 2018. It is reported that HMRC only took action by removing…
  • Rack ‘em up

    17 April 2019:  The BRI Coventry office recently welcomed participants to their bi-annual pool tournament (held every Spring and Autumn) to do battle and establish which local professional was best with a cue in their hand. 32 players took their chances and the person with the most wins in the…
  • Debt Relief Orders (“DRO”) 10 years on.

    10 April 2019:  The insolvency Service has reported on the 10th anniversary of DRO. The Insolvency Service state that £2.3 billion worth of debt has been written off in DRO with 254,000 individuals successfully entering this procedure. The average level of debt per DRO is £9,400. A DRO is an…
  • It’s how you deal with matters that matter

    5 April 2019: At BRI Business Recovery and Insolvency, we pride ourselves in providing the right advice first time, every time even though the advice may not be what the recipient wants to receive. BRI’s Northampton Office are dealing with an insolvent liquidation whereby, prior to our formal engagement, we…
  • Ill health impacting businesses

    1 April 2019:  We have recently seen an increase in enquiries from businesses that are financially struggling due to the ill health of the directors and senior staff members. Due to health reasons these members have not been able to give the business the time and attention it needs. Recently,…
  • Staff success

    22 March 2019:  It is with great delight that we announce the success of Dan Smith in passing the Joint Insolvency Examination Board exams.  The two exams, one on personal insolvency and the other corporate insolvency, are sat once a year and test the boundaries of knowledge on all aspects…
  • Not always fair game

    19 March 2019: Our Spalding office dealt with a recent enquiry involving a company director who had incurred the wrath of gaming fans following an unsuccessful event, held for players of virtual games to experience something more akin to ‘the real thing’. The non-attendance of several staff members led to…
  • How many new tennis balls are used at Wimbledon each year?

    14 March 2019:  The above was the tie break question at BRI Business Recovery and Insolvency’s annual quiz held on 7 March 2019. With 37 teams attending, three teams scored the same number of points and the above question was asked to establish second and third place with HSBC beating Hewitsons…
  • Increase in company county court judgments (“CCJ’s”)

    8 March 2019:  It has been reported that there were 93,534 CCJ’s against companies in England and Wales in 2018, a 27% increase from 2017. The recording of a CCJ is, quite often, an early indication that all is not well on behalf of the recipient from a financial aspect.…