The British Urban Regeneration Association (BURA) has gone into voluntary liquidation, a move that was announced in a memo sent to members yesterday by BURA chair Jackie Sadek.
Sadek said: “In recent years the expansion of regeneration media, events and networking channels has created ever greater competition and has challenged BURA’s model. In the last few months, we’ve undertaken a thorough review of the organisation and it is clear to us that the current model is no longer workable. Over the recent period we have worked really hard to meet BURA’s obligations and to continue its mission to support practitioners in these difficult times. We’ve engaged widely with members across the country and have developed our services to meet their needs and we’ve developed new services. We’ve also cut back our overheads to an absolute minimum. However, in common with many of our members, we’ve come to the view that a more radical approach is necessary and our board has agreed that the time is right to draw a line under BURA, whilst it can still control its own destiny, and initiate voluntary liquidation.
Reluctantly then, the directors of the currently constituted company, having regard to its financial position, have decided to commence voluntary liquidation proceedings.”
An extraordinary general meeting for BURA members is scheduled to be held on September 6.
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