PHOENIX
The best insolvency procedure to ensure the survival of a business is Pre-Pack Administration. This process allows the directors of the company to purchase the assets back, normally at a 'fire sale' price, and in preference to other creditors (with the exception of debenture holders). The deal is reached before the appointment of an insolvency practitioner of our recommendation.
It has been proven that the continuity of trading that Pre-Pack Administration offers increases the retention of customers, and by writing off debts, the new phoenix company can quickly return to profitability.
It has been proven that the continuity of trading that Pre-Pack Administration offers increases the retention of customers, and by writing off debts, the new phoenix company can quickly return to profitability.
BUSINESS SERVICES
Advantages of Pre-Pack Administration
Sale of the business (assets, contracts & undertaking) agreed in advance
New business can trade under a variation of the original name
Seamless transfer ensures that minimum disruption occurs
Customers not contacted (they may well be unaware of the change)
No creditors meeting to attend
Sale of the business (assets, contracts & undertaking) agreed in advance
New business can trade under a variation of the original name
Seamless transfer ensures that minimum disruption occurs
Customers not contacted (they may well be unaware of the change)
No creditors meeting to attend
To protect & save your business, call
0871 245 8800
0871 245 8800