RVA Surveyors Limited
Moorfields were appointed as Administrators over RVA Surveyors Limited, a Manchester-based specialist in business rate reduction services operating nationally across the UK.
Established in 2010, RVA Surveyors had built a strong reputation within the property and rating consultancy sector. However, the business faced increasing financial challenges due to the impact of Covid-19 restrictions, legislative changes, and delays to the 2022 business rates revaluation cycle. These external pressures significantly affected revenue and cashflow, leaving the company unable to sustain its operations in its existing structure.
Moorfields were appointed to manage the administration process and explore restructuring or sale options that could safeguard the underlying business and its workforce.
Objectives
- Preserve value in a well-established professional services business
- Safeguard employment for more than 70 skilled professionals
- Stabilise operations during the administration process to maintain client confidence
- Conduct a full marketing process to identify a suitable acquirer
- Maximise recoveries for creditors through a going concern sale
Moorfields’ Actions
- Undertook an extensive marketing campaign, engaging with multiple parties in the professional services and business rates sector
- Negotiated with interested bidders to achieve the best possible outcome for employees, creditors, and clients
- Managed ongoing operations during the administration to ensure service continuity and preserve key client relationships
- Finalised a pre-packaged sale of the business and assets to Business Rates Hub Limited on 1 June 2023
- Worked closely with the purchaser to ensure a smooth transition for staff, clients, and contracts
Results
- A successful pre-pack sale was completed to Business Rates Hub Limited
- Over 70 jobs were preserved, protecting the livelihoods of the entire workforce
- The purchaser secured new investment and funding, providing a strong platform for recovery and future growth
- The transaction ensured continuity of service for clients and retained RVA’s established reputation within the sector
- Creditors benefited from a going concern outcome, achieving significantly better returns than under liquidation
“We are delighted to have found a buyer for the business, securing the future employment of all staff. The purchaser has secured new investment and funding which should enable the business to not only recover but to grow.”
“We are looking forward to building on RVA’s long history of delivering great service in reducing business rates liabilities for its clients. Retaining all the highly experienced staff will allow us to support companies in reducing their overheads at a time when it is needed more than ever.”
