The company was insufficiently capitalised to cover losses during the development phase of products and it main investor withdrew ongoing support.
We worked with the business to find a purchaser and transacted the sale via a pre-pack Administration.
- The business was sold via a pre-pack administration. This required complex negotiations with shareholders to incorporate the sale of a solvent, associated company as part of the transaction.
- All employee jobs were preserved and substantial return to secured creditors was generated.