PBC Business Recovery & Insolvency are dealing with the Administration of the UK subsidiary of a very well-known coach company that was based in Belgium. Apart from the usual office furniture and equipment, together with plant and machinery, the company owned its freehold trade premises.
The chattels all sold for the higher end of valuations, but the highlight was the premises. Agents had valued the premises with instructions to give serious consideration to offers in excess of the minimum expectation. As a result of a short marketing campaign, the agents received several offers but rather than simply accept the highest offer, the interested parties were placed on notice to submit their best and final bid. The result was the property was sold for nearly twice as much as expected. This will mean a return will be paid to unsecured creditors, more than double what was originally envisaged.
You cannot substitute experience, and the outcome of this property sale was the result of the vast experience at PBC, working alongside Wilson Browne Solicitors and Lambert Smith Hampton, who should be recognised for their part in this success.
If you need any advice or assistance on any corporate restructuring or insolvency-related issue, then please contact PBC Business Recovery & Insolvency on 01604 212150 (Northampton), 01908 033150 (Milton Keynes), 01234 989150 (Bedford) or email to enquiries@pbcbusinessrecovery.co.uk. Alternatively, visit www.pbcbusinessrecovery.co.uk for further information.
