CASE STUDIES
The Company operated a health centre for women, providing blood tests, pregnancy related services and sexual health services and had faced resourcing issues arising due to COVID-19 (as it relied on NHS staff numbers, typically, to operate on a day-to-day basis) and had accrued liabilities it was ultimately unable to settle (due to falling turnover and profitability).
The incumbent management had no wish to take the business forward and had sought to seek a potential buyer from previously interested parties; however these approaches did not lead to any expressions of formal interest or offers. CMB was instructed and, using reputable valuation agents sought to market the business and assets for sale.
A third-party buyer was identified and the business/assets were disposed of by way of a seamless pre-pack sale which preserved a number of jobs and ensured the centre continued to provide much needed services in support of the work of the NHS.
The sale will ensure the continuity of a long established business and has facilitated payment to various creditors by the purchasing entity and the mitigation (almost entirely) of potential claims from employees (which would otherwise have been met by the Redundancy Payments Service).
The director was thankful that CMB’s actions and professionalism resulted in the saving of the business via new ownership who will seek to take the business forward.
