CCR Magazine

CCRi banner ad
You are here  :Home arrow News arrow Commercial Credit News arrow SFP completes sale of four care homes and maintains care for residents
Contact Us Newsletter Signup RSS Feeds

SFP completes sale of four care homes and maintains care for residents PDF Print E-mail
Thursday, 14 September 2017
Nationwide insolvency practitioner, SFP, has completed a sale of the business and assets of South Yorkshire Care Limited, ensuring the essential care provided to elderly and vulnerable residents continued without interruption, and saving the future of all 101 employees.  

The company began trading in 2009 and had four care homes in Harrogate, Lincoln and two in Grimsby. Despite turning over more than £1.5 million in 2016, the company ran into arrears with HMRC which led to a Company Voluntary Arrangement (CVA) being implemented.

When South Yorkshire Care could not meet the terms of the CVA, a pre-pack sale was pursued via Administration

Following an initial review of the business, the Joint Administrators conducted a valuation of the care homes, marketed them and subsequently looked to carry out a pre-pack sale without business interruption, to ensure the safety of the residents.

SFP’s Simon Plant and Daniel Plant were subsequently appointed Joint Administrators of the Company on 1st September 2017, with the sale completing simultaneously.

“After marketing the business widely, offers were received from four associated businesses, each looking to acquire the business of each of the care homes. Restructuring in this way should provide improved security for each home, having the finances ring-fenced per unit.

“Any such business that finds itself in a similar situation should consult specialist advisors before it is too late. Thankfully we have been able to keep the business trading which has meant the level of care for residents has not been affected and all employees have kept their jobs,” says Simon Plant.

3 October - Guoman Tower Hotel, Central London 

CCRInteractive, in association with Marston Holdings , is the largest and leading one-day conference from the publishers of CCRMagazine – a truly national and international event for the credit industry.

This landmark event allows delegates to: Learn best practice of how to increase profitable sales in today’s economy. Understand the key compliance issues and how they will impact upon you. Discuss the legislative and regulatory framework and how it will effect you. Consider the potential effects of Brexit on your business. Discover the latest innovations in the market to improve your collections. Motivate your staff to achieve ever improved results.

To book to attend in 2017, contact Stephen Kiely  or Alison Lucas. To find out more about being part of this landmark event, please contact Gary Lucas

 Forums International Ltd

Forums International Ltd

 Attendance at your first meeting is free of charge, and please quote reference 'CCR2016' to receive the special 10% discount off of your first annual subscription.

Find out more here.

latest issue

CCR Cover

The latest edition of CCR Magazine, the leading editorial publication in the UK credit industry, is out.

Read the latest issue online

Commercial Sponsor

This Commercial Credit News section area is currently available for sponsorship.   

Please click here to contact us about our site sponsorship opportunities

The Credit Excellence Awards


Tuesday 3 October - Guoman Tower Hotel, Central London

Do not miss your chance to meet and network with the Winners and Finalists at the Credit Excellence Awards, in association with Hoist Finance.

To book your place to attend, please contact Alison Lucas.


CCR is the premier magazine for consumer and credit professionals. It provides an independent voice to the industry, breaking major news stories and running in-depth features.

As a magazine, it works with and campaigns on behalf of the credit industry to promote its importance as a centre of potential profit and business development to the wider business world.

Subscribe to CCR Magazine

CCR World Magazine


Providing information and analysis for thousands of senior credit professionals worldwide, every quarter.

Find out more

GTS Media Ltd
81 Cambridge Road

Registered in England No: 05483197