Mon, 24 Jun 2013 | ADMINISTRATION
Clarencare Limited has been saved from the clutches of liquidation, having been bought by Brown Edge House Limited.
The business, which traded as Brown Edge House Residential Home, had been served a winding-up petition from HM Revenue & Customs over an unpaid tax bill, which could have sent the business into liquidation, and possibly resulted in its closure.
Brown Edge House Limited has stepped in to secure the business, assets, its 17 staff and the future of the 16 residents.
Francesca Tackie, insolvency director at Begbies Traynor, worked on the case as liquidator and outlined the situation to Insolvency News: “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 accounts.
“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.”
HMRC will not press ahead with the winding-up petition, in another positive result of the voluntary liquidation.
Brown Edge House is based in St Helens, Merseyside and features 14 single rooms and three shared rooms for its residents. Its specialises in caring for people suffering from Alzheimer’s and those struggling from the effects of a stroke.
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