A Lancashire-based company specialising in waste management, demolition contracts, plant hire and haulage has been successfully sold on as part of a “pre-pack” deal by Bennett Verby following an Administration in July.
After the North-West based company fell into financial difficulties, Administrator, Vincent Simmons of Bennett Verby Corporate Recovery & Insolvency Services Limited was brought in to handle the company’s affairs.
Vincent is the Corporate Recovery & Insolvency Director at Bennett Verby CR&IS Limited. With a background in accounting and corporate recovery, Vincent founded Bennett Verby’s Corporate Recovery & Insolvency practice in February 2001.
He successfully sold part of the business in a “pre-packaged” sale, following the sale being approved following a submission of the terms of the proposed deal by the Purchaser to the “Pre-Pack” Pool (being a panel of experienced business specialists). As a result, three trading divisions of the business will be saved and a number of the company’s employees will likely retain their jobs.
Mr. Simmons is one of a handful of insolvency practitioners in the North West to have completed such a sale since the Pool was introduced in November 2015. The Pool was set up following a report by the Government into “Pre-Pack” sales in Administration scenarios.
Now, with over 30 years’ experience, Vincent has established a reputation for dealing with difficult situations with an emphasis on resolution, efficiency and empathy.
Providing practical, compassionate advice on business turnaround and insolvency for SMEs in the North West, Bennett Verby Corporate Recovery & Insolvency Services Ltd is part of Manchester-based accountancy and tax-planning specialists, Bennett Verby.