Pre-packaged sale

A pre-packaged sale is a process where a struggling company arranges to sell its business or assets before entering bankruptcy. This involves negotiating a sale with interested buyers while still financially viable. Once the company files for bankruptcy, the agreed-upon plan allows for a quick sale, often minimizing disruptions and preserving jobs. This approach aims to maximize the value of the business and streamline the bankruptcy process, making it more efficient for creditors and stakeholders involved. Essentially, it's a strategic solution to help save a business while addressing its financial difficulties.