CAPA is now auditing properties at a Hull-based plastics manufacturer, after a pre-pack administration saved over 30 jobs across the business.
Liv Supplies, which provided plastics to the building trade and positioned itself as a one-stop shop for plastic materials, experienced severe financial difficulties in the first half of 2017.
After the business was hit by historic liabilities and left with an insolvent balance sheet, Robert Adamson and Patrick Lannagan, from the business restructuring services division of Mazars, were appointed joint administrators in August of that year.
Upon their appointment, the administrators immediately secured the sale of the business to a new company, Liv Supplies Yorkshire, in a pre-pack deal that saved 33 jobs and enabled the business to continue trading.
CAPA has now been instructed to conduct a property audit on five properties across the business. The instruction will involve a forensic analysis of Home & Garden’s property outgoings at each site.
CAPA’s auditors will use bespoke software to uncover multiple elements such as errors in utility bills, or any overspend across the five outlets, before recovering the cash for the creditors of Liv Supplies.