The administrators who rescued a chain of slimming clinics have appointed CAPA to audit sites the business operated around the UK.
Opus Restructuring & Insolvency has instructed CAPA to conduct rates audits on clinics occupied by Slim Holdings, after the restructuring firm managed an 11th hour rescue of the business via a pre-pack administration.
Slim Holdings, which also traded as The Slimming Clinic, provided various services including slimming pills that were prescribed by doctors and aesthetic treatments. Trading under the oversight of The Care Quality Commission, the business operated in a highly regulated industry, and was last year impacted by severe rent arrears and reduced projected revenue.
Although the business tried to pivot to an online forum delivery model, its financial problems were serious enough to render it insolvent. Ultimately, Trevor Binyon and Tim Edward were appointed administrators of the company in December 2020. They were able to sell the company immediately to a new, connected owner, in a pre-pack that saved 60 jobs.
Opus has now instructed CAPA to conduct the rates audits. This means CAPA’s Audit team will undertake a forensic analysis of business rates paid out at the clinics around the country. The team will inspect the information to discover any anomalies or errors, before recovering any overpaid sums for the creditors of Slim Holdings.