Reports claim a group of retail investors are in talks to rescue Jacques Vert owner Style Group Brands through a pre-pack administration. This follows the acquisition of Agent Provocateur out of administration in a similar deal in March this year. But what exactly does a pre-pack entail?
Last week, the government published its conclusions on the controversial restructuring procedure known as a ???pre-pack??? administration. In recent weeks, both Blacks and La Senza were sold through a pre-pack. Are they a solution for struggling businesses?
The government’s recent decision to scrap new legislation that would tighten the rules of pre-pack administrations has the support of bankers and the private equity industry.
The government has scrapped new legislation that would have tightened the rules on pre-pack administrations.
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Changes to insolvency rules will not come into force in October as originally planned, bringing the issue of “phoenix” sales back onto the business agenda.