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Business Details
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Save your business from liquidation by entering into a pre-pack buy out. By buying back the assets from an appointed administrator you can lose the debts, keep the assets you need including chosen staff and continue to trade without the debt.
Details: Are you struggling to pay your business creditors but have a business that could make a profit if it wasn't for the historic debt or previous trading issues? Then a prepack administration could save your business, improve your personal circumstances as a director and save the jobs of your staff. This process is sometimes known as Phoenixing. The basic idea here is to separate the old debt from the assets. This is achieved by the putting the current business into administration, creating a new company which then purchases just the assets from the administrator leaving the debts and problems in the old company. This process can be very successful and very quick when done correctly. White Knight can ensure you make the right decisions asset with the process and selection of the administrator and ensure you get through a difficult time and get on with running your business. Everything is legal about this process, however there a few bits of legislation you have to adhere to. It is essential to start acting before the problems become too serious the sooner you take advice and start looking at the problem the more effective and more successful the outcome will be. Even if your business has CCJ's, large or small debts then prepack can help. All you need to be sure of is will the new company be able to make a profit or is it just a fact the business model doesn't work. Call White Knight Rescue now for advise that looks after your interests.
Category: Bankruptcy
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