In a statement issued to the Stock Exchange, Garner said: “It was agreed that there is no realistic prospect of BNBRC paying its debts, and accordingly there is no alternative but to take the necessary steps to place the subsidiary into creditors’ voluntary liquidation.” Andrew Garner, chief executive of Garner, told Recruiter that the board had reached agreement in principle to reduce the total consideration payable to the liquidators of BNB Recruitment Solutions, the holding company from whom Garner bought BNBRC in 2008.