This site uses cookies; by continuing to use our site you agree to our use of cookies. More details in our privacy policy. Close

 

 

Care home sold out of administration 23 July 2013

A St. Helens-based care home has avoided being wound up over an unpaid tax bill after being sold out of liquidation.

Clarencare Limited, which traded as Brown Edge House Residential Home, had been faced with a winding-up petition from HM Revenue & Customs (HMRC) that would have resulted in immediate closure.

The business and assets have been sold to Brown Edge House Limited, ensuring all 17 jobs and 16 residents’ futures have been safeguarded.

Francesca Tackie, insolvency director at Begbies Traynor, who oversaw the sale of the home as liquidator, said: “We only became involved after the petition had been filed, giving us very little time to find a sale and plan a future for the business before its bankers froze its account.

“Our initial attempts were to secure a Company Voluntary Arrangement (CVA) or place the company into administration.

“Given the tight timescale and the financial constraints placed on the business by the presence of the wind up petition, we were left with no alternative than to pursue a Creditors Voluntary Liquidation (CVL).

“We were then able to sell the business out of liquidation. While time was against us all along, the fact that all jobs have been secured and no residents will be inconvenienced by the sale is excellent news.”

The sale means the care home can remain open and its residents can continue living there without disruption.

As a result of the voluntary liquidation, HMRC has agreed not to proceed with the winding up petition.

See also:

 

 

blog comments powered by Disqus