Pre Pack and Asset Buy Back
A fresh start with the business assets you know and need, to make a success of it
Find out how we can help, our initial consultations are free.
If you are facing liquidation, we can facilitate an Asset Buy Back or a Pre Pack
Asset Buy Back
We can advise you how you can personally buy back key assets of the business, such as stock, IT & communication systems, plant & equipment, and customer databases.
Alternatively, we can enter into negotiations to buy the company assets on your behalf, as your appointed agent.
This enables you to start up with a new company, utilising the select assets you know and trust to operate commercially.
Find out how we can help with an Asset Buy Back
Pre Pack Administration
A Pre Pack Administration is basically the quick sale of the assets of an insolvent business.
The insolvent business sells some or all of its assets to a new company. The new company can have the same Directors as the original company or be an unconnected business with an interest in purchasing the company’s assets.
This is an effective way to save the viable aspects of a business, often including the jobs of the employees working for the old company.
Find out how we can help.
How does a Pre Pack Administration work?
The process
A Pre Pack administration is a formal insolvency process undertaken as follows:
- A business plan is produced for the new business
- A formal valuation of the assets, goodwill and intellectual property of the business is undertaken
- The business is advertised for sale
- Funding for the new business is established
- An Administrator is appointed
- The sale is concluded
- The old company is closed which is usually by liquidation
Eligibility
There are strict rules regarding a Pre Pack Administration with the key requirement of being able to demonstrate that it offers the best result for creditors. The two main criteria for eligibility are:
- The company must be insolvent
- The assets of the business must be sold at fair market value
Advantages
The advantages of a Pre Pack Administration include:
- Fast completion timescales
- Business continuity with disruption kept to a minimum
- Better returns for the company’s creditors than with regular liquidations
- Directors maintain more control than with other types of insolvency
- The new company is free of all historical debts related to the old company
- Selected staff can be transferred to the new company
Time is most definitely of the essence
If your company is struggling, facing insolvency or actually insolvent, you must act immediately to keep your options open to include a Pre Pack Administration.
Speak with one of our specialist advisors now and find out where you stand, our initial consultations are free.
Find out how we can help with the Pre Pack process
Financial protection first, then you can move on
Our objective is to provide you with the information and advice that protects your personal interests, first and foremost, as well as facilitating your plans to rebuild.
Book your free consultation and experience the difference.