About Peverel has noticed a unusual amount of activity at Careline. There are a high number of staff vacancies, which suggests Peverel have plans to expand Careline.
This may well be instructive in understanding the future direction of Peverel.
Peverel know (though they won't tell anyone(especially their staff) that they are uiniquely reliant on appointments from a freeholder, that had been a connected company who are in serious financial trouble.
That the freeholder is still trading is at the behest of the financial institutions who have decided that the freeholder should be given time to sell their property portfoio in an ordered fashion to increase value.
About Peverel has received information that should a sale of the whole or major part of the freeholder property porfolio take place, it has been acknowledged by Peverel they will most likely lose those managing contracts.
It is believed that discussions have been held at the highest levels within Peverel as to how to respond to this situation.
One option would be to put Peverel into voluntary liquidation.
The owners investments are understood to be protected in the event of any liquidation. Also any money owing, such as from the price fixing or the £8m provision for resident disputes is freed up and no longer payable.
The idea would be for Peverel to concentrate on Careline (which would have been ring fenced from the consequences of any Peverel liquidation)
Careline is a much higher margin more profitable business to be in than property management and far less complicated.
It is thought that though Careline are contracte at many developments, through the association of Peverel, a deal will be worked out with any new freeholder that might wish to dismiss Peverel.
Basically, Peverel will agree to remove themselves from the management of a development without challenge, in return for contracts being awarded to Careline.
If any of these details are wrong, Peverel are free to add their comments.
