Cosmetics surgery specialist appoints administrators

A Harrogate-headquartered cosmetics surgery business has appointed administrators, four years after it entered into a Company Voluntary Arrangement (CVA) to have more time to pay off debt.

MYA Clinics has six centres across the UK for in-person clinical care, including in Leeds, Birmingham, Manchester, Bristol and London. 

Established in 2007, the group offers a variety of cosmetic procedures for men and women, including liposuction, face and neck lifts, rhinoplasty, breast enlargement and breast reduction.

MYA Clinics’ next accounts made up to 29 November 2022 are nearly a year overdue. In its last available full accounts made up to 30 November 2021, the business reported turnover of £12.6m, a £250,000 pre-tax profit and an average staff headcount during 2021 of 122.

The business entered into a 64-month Company Voluntary Arrangement (CVA) in January 2020 to give it time to pay off debts.

An annual supervisor’s report for the CVA, published in March this year, notes that the pandemic had affected MYA Clinics’ ability to pay contributions, with the business experiencing difficulties throughout 2020, 2021 and early 2022.

The same report notes that unsecured creditor claims totalling £5,548,960 have been received so far, with further claims believed to yet be received.

The report also explains a claim for over £9m has been received from HMRC relating to VAT which HMRC says should have been paid on historic procedures.

However, MYA Clinics has disputed this claim, with the supervisor’s report noting the company’s appeal against the HMRC claim “may take some time to resolve”.

The report warns: “The result of the HMRC claim will have a huge impact on the outcome of the CVA as, if upheld, HMRC’s claim will increase significantly from £987,396 and in turn reduce the potential dividend to the general body of creditors to a minimal amount.”

TheBusinessDesk.com has contacted MYA Clinics for comment.