Administration is an option available to insolvent businesses. It allows the restructure of a company, whilst protecting it from its creditors.
An Administration allows a company to plan a business rescue which is proposed to creditors. This process allows the business, time to maximise asset realisations which can be initiated by the directors of the company.
This process allows the restructure a business swiftly and effectively. Please contact us to arrange a free initial consultation.
The Benefits of Pre-Pack Administration
Providing immediate protection from the Company’s creditors which allows time for a proper sale to be concluded as a going concern.
A Pre-Pack Administration usually provides a higher return for creditors as opposed to Liquidation.
Ensures assets are retained and sold to the new Company minimising disruption to the business. This will assist with the preservation of contracts, employees, property and other equipment and assets of the company.
Allows the preservation of jobs as well as the business enabling the continuation of trade.
Exposure to the costs associated and outcome prior to the Administration taking place.