The administrative receiver at Doctus Plc, the Manchester-based profit-improvement consultancy, has managed to sell off a key part of its business, Doctus Management Consultancy, DCM, to the training, recruitment and consultancy specialist, CRT Group Plc. CRT is seen to have got a bargain, paying just UKP100,000 up front for the consultancy which has a fee income of around UKP5m and should make profits of at least UKP300,000 a year. CRT will also take on liabilities of UKP500,000 owed by DCM, including wages and benefits due to employees and associates, and make a deferred payment of up to UKP100,000. However, strict conditions are attached, CRT will pay the full sum only if Doctus makes pre-tax profits of UKP1.25m in the next nine months. Cork Gully, the administrative receiver, which has been running Doctus until a buyer could be found, is said to be pleased with the price. John Powell, the receiver, said that financial pressures, such as salaries, had precipitated the sale. DCM’s staff of 75 and associates will all join CRT.
