Pre-Pack Liquidation

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Pre-Pack Liquidation

Thinking of Pre-Pack Liquidation? What Are The Options?

 

A pre-pack liquidation is a favoured way for a company that is in financial difficulties to properly and correctly close the loss making entity, so as to protect the directors from accusations of wrongful trading, but also to enable the business and the employees to be transferred to a debt free company.

It is the view of government that it is better to preserve the business and let the legal entity fail, than let a potentially profitable business founder. This is entirely the basis for the basis of the pre-pack liquidation. We have the expertise to help you set up a new company and, with the blessing of the proposed liquidator of the insolvent company, conduct a sale for value of the on-going trading element of the insolvent business to the new company and then close the insolvent company at a creditors meeting.

There has been comment recently that there are too many pre-pack liquidations happening now. However, with increasing failures of companies, this is to be expected. A lot of businesses that are experiencing financial difficulties are, on an underlying basis, sound trading companies. If you take away their debt, they will flourish and continue to employ staff and generate sales.
It is vitally important in today’s economic climate to keep people with skills in employment, and to get companies trading with each other.

We can help arrange a pre-pack liquidation for such businesses so that they can continue to build on the wealth of the country.

If you would like to pre-pack your insolvent company and re-trade in a debt free new company, please call us for an informal conversation on how we can assist, and the likely timescales, or use the web form below.

However, if you need help with personal debt (rather than business related debt) go to our free debt management plan application form.

 

 

 

We specialise in the following:

business debt factoring
invoice discounting

business bankruptcy
business finance

company bankruptcy
voluntary arrangement

pre pack administration

voluntary liquidation
business liquidation
wrongful trading
business insolvency
business rescue
business turnaround

pre pack liquidation

 

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