We have offices in Northampton, Banbury, Coventry, Hitchin, Milton Keynes 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

  • BRI Golf Society (“BRIGS”) is back!

    8 July 2020: After a 3 month gap, BRIGS recommenced this week with 12 attending. The venue was Overstone Golf Course with Tom Low sweeping the board by winning nearest the pin and best overall score, scoring a huge 24 points. Below is a picture of Tom’s shot into the…
  • Work in progress – the right advice and hopefully commerciality will prevail!

    30 June 2020: BRI’s Northampton office has been referred a matter by a local accountant whose client company has ceased trading. The company in question has no HMRC liabilities or employees but has liabilities of approximately £80,000 owed to 12 creditors. The company’s only asset is £20,000 in the bank…
  • First business casualties of Covid-19

    25 June 2020: As businesses try to get back to the new normal, BRI Business Recovery and Insolvency are seeing the first casualties of Covid-19. One of the first casualties was a catering company whose clients included car manufacturers, where regular lunches were delivered, weddings and private celebrations. With business…
  • Welcoming the new ‘lockdown’ recruits

    22 June 2020: We have pleasure in introducing two of our newest trainee insolvency administrator recruits for the BRI Coventry and BRI Northampton teams. Both joined just prior to the covid-19 lockdown rules and have no doubt faced some challenges with regard to working from home whilst learning and training…
  • You’re an insolvency practitioner – you must be busy?

    18 June 2020: We are, but not as you might think. Because of the current pandemic and the headline insolvencies (often retail), people think we must be very busy. Companies continue to receive unprecedented levels of financial support at the current time. This is in the form of grants, loans,…
  • Restructuring Plan – another tool in the box?

    15 June 2020: We are BRI Business Recovery and Insolvency, as our name suggests we are focused to help business recover first before having to sometimes resort to an insolvency process. Within the government’s Company Insolvency and Governance Bill 2020 (“CIG Bill 2020”) (currently being discussed in the House of…
  • A different type of business meeting

    1 June 2020:  Whilst BRI Business Recovery and Insolvency are providing advice to many individuals and company directors via conference calls and video meetings, one of the management team took the opportunity to provide advice, whilst observing social distancing rules, by meeting a director in a park (where they  both…
  • Greatest Recession and the list of shops that can reopen and when

    26 May 2020:  The Government last week published a list of shops that can now reopen immediately. https://www.gov.uk/government/publications/further-businesses-and-premises-to-close/further-businesses-and-premises-to-close-guidance To support these businesses, the Government have also published back to work guidance and a business recovery strategy. Outdoor markets and car showrooms can reopen from 1 June 2020 and all other…
  • Insolvency shake up

    21 May 2020:  The much-anticipated (at least to those of us in the industry) Corporate Insolvency and Governance Bill has just been released and is expected to progress through Parliament shortly.  The Bill has been designed to help the economy recover, protect jobs, and give companies the best chance of…
  • Health and Wealth (and how we can help)

    15 May 2020:  As we enter the first week under new government guidance and the eighth week since the beginning of lockdown, I think it is fair to say that many of us are facing one of the most challenging periods we can remember both personally and professionally. We are…
  • Flattening of the curve in liquidation numbers

    4 May 2020:  It has been reported that there has been a decrease in both creditors’ voluntary liquidations (“CVL”)   and compulsory liquidations since the UK went into lock down – see graphs below. The decrease in compulsory liquidations is no doubt as a direct result of HMRC not issuing winding-up…
  • Businesses re-opening – Resilience and the Road to Recovery

    28 April 2020: As Matt Hancock, Secretary of State for Health and Social Care, announces that he is happy with some businesses re-opening, decision making for directors during these challenging time is immense. There are many businesses that stopped trading at the end of March to safeguard their staff, as…
  • Freeing up cash in a Company Voluntary Arrangement (“CVA”)

    21 April 2020: At BRI Business Recovery and Insolvency we recently approached a client of ours that is in a CVA to discuss the impact of the coronavirus upon their business. It was clear that prior to the outbreak business was growing with a strong order book and profits. However,…
  • The suspension of the Wrongful Trading provision – What is Wrongful Trading?

    15 April 2020:  The law states “where a director knew, or ought to have concluded that there was no reasonable prospect that the company would avoid going into insolvent liquidation” (Section 214, IA86) Simply put; Wrongful Trading is a way of holding directors personally liable for company debts incurred after…
  • Further update on winding-up petitions

    9 April 2020: Winding-up hearings are no longer being adjourned: The Insolvency and Companies Court has responded rapidly to the current situation and intends to progress with winding-up hearings remotely, either by telephone or video call applications, as opposed to adjourning them. Whilst it is the petitioning creditor’s obligation to…