Do you own a UK based subsidiary?

Do you own a UK based subsidiary?

If you are an international company with a UK subsidiary in financial trouble, we can help you through the process of administration step by step.

We will produce all the paperwork needed to put a subsidiary into Administration. Administration will protect the business and give you time whilst a solution is worked out.

We may arrange for the closure of the business and redundancy of all staff or, if viable, we will advertise and sell the business to a new owner as a going concern. This may be to a new limited company you have formed for the purpose of acquiring the existing business.

We will ensure that the assets and business are independently valued by our approved and insured commercial agents before any sale.

Liability of the holding company

The holding company is not liable for any creditors of the subsidiary unless it has provided guarantees. Under UK law, the assets of the subsidiary are used to pay the Administration costs and then creditors of that subsidiary. This often leaves a shortfall which the creditors will have to write off.

David Kirk did exactly what he said he would. I’d be lost without Administration. Without David, we would have gone bankrupt by now. Really good

Sophie M