Price Bailey supports directors through a distressing time, providing the best outcome for all
Price Bailey were instructed after a marketing communications business suffered a significant and unexpected bad debt after losing its main client.
The directors acted responsibly by seeking prompt support and advice once concerns were realised. Our team of experienced business advisers quickly reviewed the options available to the directors and clearly presented their findings. Having been established for over 20 years the directors were keen to safeguard their employees and lessen the impact on creditors.
Director, Marketing communications company
Taking your own business into Administration is a daunting task. In early 2020 this happened to me where I was forced to consider the options available to my Marketing Communications business
Director, Marketing communications company
Price Bailey outlined the various options and their respective outcomes available to the Company. Ultimately, the difficult decision was taken to put the business up for sale.
The bad debt was significant enough that the company became cash-flow insolvent. Working closely with management, Price Bailey helped the Company secure the support of its lenders by providing independent cash flow forecasting and monitoring. The detailed approach gave comfort to their lender, who allowed time to implement an accelerated marketing process for a going concern sale.
Director, Marketing communications company
Price Bailey methodically took me through each step of the process, ensuring that I carried out my duties as a director and obligations to creditors whilst considering the options that would result in the best outcome for the staff and creditors.
Our team undertook an accelerated marketing process to identify a buyer for the business as a going concern to mitigate risk to the employees and creditors. We negotiated a going concern sale of the trade and assets through a pre-packaged sale.
Director, Marketing communications company
As a business owner one never thinks about how to manage the administration and closure of your business.
Price Bailey made the process easier with their clear and professional advice which concluded in 100% recovery of book debts and the best possible outcome for all involved as a result.
Paul Pittman a partner at Price Bailey
The loss of the Company’s largest customer immediately placed the Company into a distressed financial position, with limited time to find a solution.
We worked quickly with management to devise and implement a strategy that achieved the best outcome for all in the circumstances.
We are pleased to have completed a going concern deal, saving jobs and securing the future of the business
Contact us today to find out more about how we can help you
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