Pre-pack administration is an Insolvency Process where an insolvency practitioner acts as an administrator. Call us today to find out more 0330 053 6790.
What is Pre-pack Administration?
This process is called ‘pre-pack’ because the sale of the assets is pre-negotiated or pre-packaged before the formal administration process begins.
Pre-pack administration can often involve selling the business and its assets back to the current directors or to a third party.
This is a great solution as the process can provide a seamless transfer from one entity to another; ensuring continuation of trade and preserving existing contracts and saving jobs!
The benefits if Pre- pack Administration
- The old company , its assets , customers and staff are transferred into a new trading company seamlessly
- Contracts are sold as goodwill as part of the sale
- It isn’t a form of liquidation, so there is no creditors meeting
- Quicker than liquidation
Is Pre-Pack Administration right for your business?
To determine whether Pre-pack administration is the right solution for your business, it is best to seek expert advice.
Our experts will take the time to understand your business, the situation and your future business plans to ascertain if this is the right solution for you. Call us or email today: 0330 053 6790, email@example.com.
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