What is Pre Pack Administration (Copy)?

A pre-pack administration is very similar to the administration mentioned above. However, the sale of the business and assets is negotiated before the company enters into administration and effected once the process begins. 

Pre-pack administrations have received mixed reviews in recent years largely due to an abuse of process. A licensed insolvency practitioner from Rushtons can guide the company through the required protocols, ensuring the pre-pack administration is the right process and can withstand creditor scrutiny. 

Pre-pack administrations are particularly useful where there is work in progress to protect, and where there needs to be a seamless continuation of the business. The pre-pack administration option provides a quick corporate solution with little disruption to preserve value, protect jobs, and give the best possible return to creditors. This in turn ensures that the business can continue without the burden of creditor liabilities.