Birmingham 0121 728 5581

Bristol 0117 332 3844

London 0203 667 8693

Manchester 0161 537 2702

Southampton 0238 235 8122

How quickly can you do it?

How quickly can you do it?

One to four weeks

A pre-pack administration can act very quickly depending on how proactive the directors are and how quickly a buyer can be found.

The assets and business need to be marketed by professional agents – this may take about a week. Even if a buyer has already been lined up, say that's one of the existing directors, the market still needs to be tested to ensure the offer is the best at market value.

Once a buyer has been identified and a sales contract agreed in principle, the directors make the application to court for the administration with the help of solicitors.

The company can usually be placed into administration within 24 hours.

The administrator will then usually complete and sign the sale contract/s on day one of their appointment.

David Kirk ACA FABRP

David Kirk

David Kirk is a Chartered Accountant and Licensed Insolvency Practitioner.
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Business Rescue
“At the initial meeting you told us the good and bad things that can happen and were honest and told us to watch out for. No one else had done that.”
J White
Business Rescue
"David Kirk helped us with an Administration to rescue the business. He did exactly what he said he would do. It has worked out very well."
Chris Pratt of Elecsis Ltd
Business Renewal
"It was a very difficult decision to make to go into Administration but now I am so glad we did it. David and his team were great thank you."
Jacci Dellaway of Baylift Services Ltd
Business Renewal
“You made a very difficult time much easier for us.”
R Johns
Business Recovery
"We were cornered and thought it was the end of the business after 20 years but he got us out of it."
Lynne Firman of Just Beds Ltd