Whether through poor trading results, a lack of working capital and/or an unwillingness of existing owner/investors to put more money in the business, a business can find itself in difficulty.
A tool used by restructuring professionals is the so-called 'accelerated M&A process;' a brief marketing campaign and sale conducted without the usual due diligence and accompanying warranties and representations.
The sale price likely to be achieved will be less, but the likelihood that the business (and the employees jobs) will be saved is increased, whether through a sale in a pre-pack administration or one conducted pre-liquidation.
Let's hope that FRP Advisory serve up a winner for Doe Sport
According to the Times newspaper this morning (30th January 2017), Essex-based Doe Sport, which has been installing tennis courts since 1926, has asked FRP Advisory to start a sale process for the business.