Infignos Media -- buyersUSA Consulting
15 Radio Streams
Click Here
Advertise Here

From Government, Legal and Policy - Government

Brought to you by Valley Heating and Cooling

It's hard to stop a Trane. Your local heating and cooling company. Located in Saks at 521 Post Oak Road. Call us at 256-820-3369.

Erectile Dysfunction

Baines & Ernst saves Suprema Concepts Limited from Compulsory Liquidation, and 19 Jobs in the Process

Mon, 13 Feb 2012 04:00:00 EST

Baines & Ernst Corporate Limited were approached for advice by Suprema Concepts Limited's Director, Mrs Caroline Peebles Brown.  Suprema Concepts Limited were under increasing pressure from HM Revenue & Customs over an historic debt relating to when the business was purchased by Mrs Peebles Brown in 2008.
HMRC were about to issue a Winding-Up Petition for Suprema Concepts Limited to go into Compulsory Liquidation, with a likely closure of the factory and the loss of 19 jobs.
On advice from Imogen Davidson, Insolvency Practitioner and Director at Baines & Ernst Corporate, Mrs Peebles Brown chose to put Suprema Concepts Limited into Administration to protect it from action by HMRC while a rescue plan could be formulated.
The company went into Administration on 27 January 2012, with Imogen Davidson appointed as Administrator.
Suprema Concepts Limited was working on a number of high profile contracts at the point of entering Administration and these were continued with no interruption to service.  In tandem with a short period of successful trading, the business was marketed for sale on a confidential basis, with a number of potential investors expressing interest.  A sale of the business and assets of Suprema Concepts Limited was completed on Friday 3 February 2012 to Class Creations Limited, an existing company owned and managed by Mrs Peebles Brown.
All 19 staff were transferred to the purchaser on 3 February 2012, with no redundancies.
The staff and directors worked with the Administrator, Imogen Davidson, to achieve a very successful outcome.  The business is continuing to provide the same high quality service it has always maintained.  It is also likely that creditors may receive a dividend of up to 30p/£ once the company's debtors are realised.
Mrs Davidson commented: 'It is a successful outcome for all when Administration works to save a business and protect staff jobs.  Customers were supportive of the Administration and are continuing to work with the purchaser.  When you compare the result to a Compulsory Liquidation, with the likely loss of all staff jobs and a nil return to creditors, it is clear the right decisions were made'.

Baines and Ernst Corporate Ltd is part of the Paymex Group of companies and specialises in providing businesses of all sizes with bespoke, transparent advice and implementation of insolvency and tax solutions. Visit for more information.

Source: WebWire

From Our Blogs

Tricks and Treats to Stay on Budget this Halloween

You don’t have to spend a pirate’s booty if you plan carefully.

How You and Your Family Can Protect Your Local Environment

Getting involved with protecting your state’s woods is easy.

Afterschool Participation Grows

Afterschool Participation Grows but Unmet Demand Nears 20 Million Children

Tips for Beating the Winter Blues

Many people find that the dark and cold days can impact their mood.

Sign up for our weekly newsletter.

Our Website Sponsors

Stop smoking, lose weight, and even improve your golf score. For our free consultation call 256-237.8049 or visit us on the web at

Buyer's Edge Realty

Annie Brunson, Buyer’s Edge Realty: A long record of successfully guiding buyers and sellers through all aspects of real estate.

Oxford Carpets Coldwater

A new depth of 1st quality luxury for your family at frugal prices! Always 50% less than our local competitors! Call Oxford Carpets Coldwater at 256-835-2155

LaMar's Donuts

Our donuts are the ultimate indulgence. Visit us at our 1781 Hamric Drive E. location in Oxford. Call 256-832-4353.

TCBY Yogurt

The country's best yogurt. Softserve, hand scooped, smoothies, cakes, pies, and specialty items. There's nothing like a specialty ice cream cake for your next special occasion! Visit or Anniston location at 1903 Quintard Avenue. 256-238-8229.