Below Are A Few Examples of How Pre Pack Admin Cases Work
Knowing you are dealing with a reputable and regulated company will help ease your mind when deciding who to entrust with your company problems. With over 400 staff and 40 offices nationwide, we are well-established and perfectly placed to support company directors, owners and shareholders. View some of our case studies below.
CASE STUDY 1 - PRE-PACK SALE OF FLOWER BUSINESS - A flower business was placed into administration after reporting a loss at the end of the financial year although still generating sizeable revenue, having substantial assets and a considerable customer base. Our corporate recovery team was able to broker a pre-pack sale to a home shopping group; primarily testing the market with the full support of the funders while the business was still trading.
We consequently saved all viable parts of the business including 30 jobs, a large network of 750 florists and the entire customer base.
CASE STUDY 2 - 245 JOBS SAVED BY PRE-PACK ADMINISTRATION - One of the UK’s largest mobile phone retailers experienced a cash crisis after aborting the purchase of a large number of extra retail outlets. This was compounded by borrowing conditions, which suddenly worsened. With 245 jobs and 75 outlets at stake, our team successfully orchestrated a complex ‘pre-pack’ administration, whereby the company was placed into administration while its assets were simultaneously sold to a new company.
The business continued trading without a break, saving all 245 jobs at a time of increasing unemployment.
CASE STUDY 3 - PRE-PACK SALE OF CONVEYANCING PRACTICE - A property conveyancing practice sold its traditional commercial and private client business that employed around 40 staff, to another practice. Following this, the practice experienced problems when a major provider of remortgage work reduced its panel of legal firms and withdrew its current instructions of about 3,550.
Our team of administrators were successful in pre-packaging the sale of the remaining practice to a number of other firms, preserving a proportion of jobs and ensuring that the interests of the firm’s clients were and creditors looked after on an ongoing basis.
CASE STUDY 4 - MANAGEMENT SAVE BUSINESS IN PRE-PACK SALE - A granite and stone business was placed into administration following a change in its business model which brought a host of problems to its operations and, coupled with poor trading conditions, resulted in a massive downturn in sales. Our team of specialists were able to broker a pre-pack sale to the existing management.
Without this deal the financial situation of the business was such that it would have ceased trading due to the lack of new orders and liquidity problems. The deal saved 21 jobs.
Pre Pack Case Studies - Overview
- Pre Pack Administration
- Advantages of a Pre Pack
- Is a Pre Pack a Good Option?
- CVA vs Pre-Pack
- Disadvantages of a Pre Pack
