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

  • Substantial return to creditors – what great news!

    25 November 2020:  When appointed as liquidators of an insolvent company, we make every possible effort to achieve the maximum return for creditors. The size of the distribution will, of course, depend on the value of the assets held by the company at the time of liquidation. It is always…
  • Local Authorities budgets stretched to bursting

    19 November 2020:  The recent news that Croydon Council has declared effective bankruptcy by filing a Section 114 notice is a timely reminder about the precarious nature of a local authority’s finances. The job of balancing the books was already very difficult and the coronavirus pandemic is likely to have…
  • CVA? Administration? Maybe just a letter and a nice chat.

    12 November 2020:  Forgive us for beginning this article by repeating a point made many times before but the formal appointments that we deal with really are just the tip of the iceberg of enquiries that make up our working days. A very apt recent example of this, which happens…
  • All change but our advice remains the same – contact BRI early

    3 November 2020:  The initial draft of this article was written when it was anticipated that the end of a range of Government support schemes and mortgage holidays would come into force on 1 November 2020. The Government has since announced there will be a further lockdown from 5 November…
  • Is the tier system leading to more Zombie companies?

    28 October 2020: Since tighter coronavirus restrictions were introduced with the three tier system, more and more companies with little financial support are turning into Zombie companies. Hospitality is the hardest hit with buzzing bars and restaurants struggling, especially those now in the 2nd tier which bans households mixing indoors.…
  • Record borrowing outside of world wars

    20 October 2020:  With the UK in one of its fastest debt spirals it is going to take a generation to balance the books.  The table below shows the only comparable gap in GDP vs. debt… war. How we move forward we don’t yet know.  The chancellor’s budget keeps getting…
  • Helping our communities

    14 October 2020:  Every year here at BRI we bring our offices together for a charity day, whereby a day of our staff’s time is given to volunteer at a local charity. Unfortunately this year, due to the pandemic, we have been unable to support a charity in this way.…
  • Further substantial payment to HMRC

    8 October 2020: We posted in March on this particular matter whereby £250,000 was paid to HMRC in respect of a Company Voluntary Arrangement (“CVA”) that is being dealt with by BRI Business Recovery and Insolvency’s Northampton office. We are pleased to report a further substantial payment of £150,000 has…
  • Covid-19 wiping out fashion

    6 October 2020:  Lockdown has knocked the fashion industry off its pedestal. Not only have shops and factories closed but the way we work, travel and, consequently, shop has been upended, prompting a dramatic reset in our attitudes to consumerism. The swinging Sixties, Seventies punk and Nineties grunge transformed society…
  • More High Street restructurings

    1 October 2020: Cote Brasserie is the latest name on the High Street to undertake a formal insolvency process in order to restructure its operations. The chain of restaurants was acquired by new investors via a pre-pack administration, securing the future of 94 restaurants and 3,148 jobs. Only three outlets…
  • BRI Golf Day – The Finals

    24 September 2020:  Yesterday we hosted a special event for the top 3 individual scorers from each of our regional golf days held in Northampton, Coventry and Milton Keynes, to see who would be crowned “BRI Golf Champion 2020”. Also, the top 3 individual scorers were teamed together to battle…
  • Budgeting Time for the Budget

    17 September 2020:  Due to the unprecedented events of 2020 the Autumn budget may arrive later than usual, and according to some recent reports, may in fact become a Spring budget. However, as many of us follow the idiom ‘hope for the best prepare for the worst’ no doubt a…
  • BRI Regional Golf Days 2020

    10 September 2020:  What wonderful weather we enjoyed at the 3 BRI regional golf days, held in tandem at Northampton Golf Club, Aspley Guise & Woburn Sands Golf Club and Kenilworth Golf Club. Numerous prizes were up for grabs from nearest the pins and team winners but the main prize…
  • Recovery …

    26 August 2020: Whilst good news was recently announced from Virgin Atlantic, many small businesses also face challenges whilst they try to survive the recession. Virgin Atlantic have won the backing of their creditors for a £1.2bn rescue plan, which will secure their future for at least 18 months and…
  • Autumn is coming

    19 August 2020: Rishi Sunak has ordered a review of the Capital Gains Tax (“CGT”) system to include a review of whether allowances and reliefs could be simplified or scrapped. Members’ Voluntary Liquidations (“MVLs”) are one area that may be significantly affected as a consequence of that review. MVLs are…