BRI have successfully negotiated a time to pay agreement for a Care Home to repay HMRC some £100,000 over a 12 month period. We were consulted earlier this year after the business's bank had asked one of their panel insolvency practitioner firms to review the position and they advised that a formal voluntary arrangement ("VA") would be the best way to avoid bankruptcy proceedings. However, upon our reviewing the situation it became apparent that a formal VA would jeopardise the business as the main contract could be terminated if a formal VA was entered into. Ian Cooke, dealing with this matter for BRI, stated "With time to pay agreements becoming harder won I am extremely pleased with the result. This is, by far, the best outcome for all concerned - the threat of bankruptcy has receded and the residents will continue to receive the uninterrupted care and attention they deserve".
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