Cowgill Holloway appointed as liquidator to Body Positive North West
Body Positive North West Limited (“BPNW”), a registered charity providing support and advice to those suffering from HIV, has been placed into Liquidation. Jason Elliott, Partner at the Manchester office of business recovery and rescue specialists Cowgill Holloway Business Recovery, has been appointed Liquidator.
BPNW was founded in 1991 and provided support and counselling for people whose lives have been affected by HIV. The Company employed 11 people directly, with a number of volunteers who provided extra support to the Company in its capacity as a registered charity. The Company also had additional support from counsellors who would attend the premises as and when they were needed. The Board made the difficult decision to cease trading when it became obvious that the Company was struggling to pay their debts as and when they fell due. They sought the advice of Jason Elliott and, after looking further into the Company’s financial affairs, it became evident that the most positive way forward in the circumstances was to place the Company into a Members’ Voluntary Liquidation. Jason Elliott was subsequently appointed Liquidator on 17 May 2012.
Jason Elliott commented: “This liquidation is solvent, hence, all creditors will be paid in full and as much funding as possible will be retained to do future work around HIV by a different organisation. The work of Body Positive has been widely applauded, offering advice, practical support, counselling and information to those people whose lives have been affected by HIV.”
The Board expressed their regret and sadness, with regard to the liquidation of the business and charity, and the impact it has had on its employees, volunteers and service users. They stated; “The charity has been held in high esteem for the quality of service it has provided over the last 25 years and sincerely hopes that a legacy be borne in a form that will continue this level of excellence to its stakeholders for the years ahead.”
It is understood that the counselling service provided by Body Positive will continue to provide a service at a different location and all existing clients will have the opportunity of transferring.
There has been some worry among Service Users that the records held by the Company, which are of a sensitive nature, may be at risk. Please be advised that any such records will be destroyed to prevent the information getting in to the wrong hands.
Cowgill Holloway Business Recovery has a strong track record in advising and turning around failing companies. Over the past 18 months the firm has helped many UK companies, saving a significant number of jobs. ‘Unfortunately’, says Jason Elliott, ‘Body Positives’ problems were just too intractable to resolve’.
The information was correct at time of publishing but may now be out of date.