Turnaround, Restructuring & Insolvency (TRI)

Assisting a pre-revenue technology business look at its funding options.

Year: 2023

Location: South Coast

Outcome:

• Exploration of a number of alternative funding solutions

As liquidators of a technology business we preserved the Intellectual Property Rights developed in the business by means of a sale to a company owned and operated by one of the former management team. The business had ceased trading because it could not secure the additional investment funding to see it through to the next phase of product development.

Year: 2023

Location: Oxford

Outcome:

• Preservation of intellectual property rights

As liquidators of a technology business we sold the intellectual property rights and associated equipment to a foreign buyer. The business had not been able to secure the additional investment funding it required to continue and consequently took the decision to liquidate.

Year: 2022

Location: Oxford

Outcome:

• Preservation of the intellectual property rights
• Sizeable returns will be made to preferential and unsecured creditors

As administrators of a fashion retailer and wholesaler we sold the business and assets by way of a pre-pack administration. The business had be adversely impacted by structural changes in the sector and the pandemic.

Year: 2022

Location: London

Outcome:

• 16 jobs saved
• Returns will be made to secured creditors

We assisted the board in modelling and presenting an informal restructuring proposal to a secured lender and several large trade creditors.

Year: 2022

Location: London

Outcome:

• Agreements were reached with the lender and creditors allowing the Company to continue to trade the profitable part of the business sustainably
• The outcome was significantly more beneficial for all stakeholders compared to if a formal insolvency procedure was necessary

Distribution of capital to over 50 private investors.

Year: 2022

Location: London

Outcome:

• Following a sale of the business we undertook a MVL on behalf of an asset manager for institutional and private clients to return funds to investors tax efficiently

As administrators we sold a tour operator business effected by the pandemic via a pre-pack administration, subsequently assisting customers in claiming refunds from ATOL or their card providers

Year: 2020

Location: South Coast/ Online

Outcome:

• Dividend to preferential creditors
• Customers refunded via ATOL / Card providers
• Preservation of employment

Having been forced to cease operating due to difficulties with premises we assisted the Trustees to wind down operations and pay surplus funds to charitable organisations with similar objectives

Year: 2021

Location: London

Outcome:

• All creditors paid in full
• Surplus distributed to charitable organisations

As administrators we sold the ecommerce business of a multinational retailer via a pre-pack administration to an unconnected third party

Year: 2020

Location: International

Outcome:

• 100% paid to preferential creditors
• Dividend to unsecured creditors
• Preservation of employment

Read the press release

Absent further investor support the company went into liquidation but intellectual property rights were preserved - enhancing the return to creditors

Year: 2021

Location: Midlands

Outcome:

• 100% paid to preferential creditors
• Dividend to unsecured creditors