Updated: 11th February 2020
hi would like more information about pre pack admin. Firstly your charges How you value the business. We have borrowed from several sources and and are now struggling to make ends meet. I have rescheduled some of the debt but after calculating cashflows etc realise that we will not meet our commitments, i am looking to buy the company back and start again without the historic debt? I would appreciate some advice.
As with most insolvency practitioners are charges are based upon the time we spend on an assignment and ordinarily these charges are paid from the sale of assets owned by the insolvent company. As we are not valuers we employ professionally qualified agents who are to carry out the valuation exercise. Whilst on the face of your enquiry a pre-pack administration may be a suitable solution we would need to assess the financial position of the company before making any recommendation to you as there may be other options available that you have not yet identified.
13th October 2021
The Bank of England has said it anticipates that rates of corporate insolvency will increase in the coming weeks following the removal of restrictions on winding up petitions.Read More