Pre-Pack Administration

Thinking of a Pre-Pack Administration? What Are The Options?

The term pre-pack administration is now widely used in insolvency circles. It is a term used to describe a process whereby the insolvent company’s assets are sold to a third party prior to the insolvent company going into any formal insolvency process. It is most commonly used in conjunction with the administration procedure. Pre-pack Administration can save your business by writing off debt and emerging stronger as a Phoenix company. We have specialist experience and offer practical advice. You can get a free consultation (see below).

Any deal is usually agreed prior to the Insolvency Practitioner being appointed, but the anticipated appointee may well advise on the terms and structure of such a deal.

The pre-pack administration processes are used as they are acknowledged as a good way of extracting value from assets prior to an insolvency, when publicity can cause values of goodwill and such like to be lost. It keeps staff and management involved in the business, and assists continuity of trading.

The pre-pack is also used where it is unlikely that sufficient cash will be available to fund a trading administration, whilst potential buyers are sought. Pre-packs have always been available but their use has spiralled in recent years as many new types of businesses have found themselves insolvent.

The pre-pack has been criticised in some quarters, as providing the creditors with a fait accompli. The deal has been done and everybody has to take its effects. Any decent Insolvency Practitioner will document the steps taken to get maximum value and there will be good business reasons for taking this type of action.

If you would like to talk about pre-pack administration to an expert with 17 years insolvency and company rescue experience then enter your details below for a no-obligation chat.

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business debt factoring
invoice discounting
business bankruptcy
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company bankruptcy
voluntary arrangement

pre pack administration

voluntary liquidation
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