Pre-pack Administration

Pre-pack administration is a process used in business when a company is facing financial difficulties and is about to go into administration. It allows the business to arrange the sale of its assets before entering administration, ensuring that a buyer is in place to acquire the business, often to save jobs and maintain operations. This sale is usually done quickly and privately, minimizing disruption. After the sale, the company enters administration, and the new buyer takes over, often in a more stable financial situation, while taking on fewer liabilities from the old company.