Profitable division saved
We were approached by the directors of an established Bristol bakery which had been in operation since 1978 and a member of the National Association of Master Bakers. The business had a retail operation which had the potential to operate as a viable business but it was being put at risk by the unprofitable wholesale side of the business.
The decision was taken to use a pre-pack administration sale to separate the profitable side of the business into a new company established by the existing management team. This enabled 16 jobs to be saved from the existing workforce. The new company is now in operation with a significantly brighter future.
Comment from Directors:
"Alison Byrne and her team at Byrne Associates made us feel welcome and at ease from the initial meeting. The information given was clear and concise and helped us take one of the most difficult decisions we have ever had to make.
We were made completely aware of what the process would involve and what people and organisations would be available for us to take our business into administration and what would be expected of us.
From that initial meeting we progressed smoothly through a four week period that, although traumatic in turning our lives upside down, was made much easier by the advice, help and support of all the professionals involved."
It is essential that businesses and individuals seek early advice as it is often possible to avoid formal insolvency proceedings and implement a recovery plan
25 April 2016
22 March 2016
20 January 2016
- Head Office: Suite 3 Farleigh House, Farleigh Court, Old Weston Road, Flax Bourton, Bristol, BS48 1UR
- Tel: 07889 363 321