What is Pre-Pack Administration?
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A Pre-Pack Administration (‘’Pre Pack’’) is a legal mechanism that allows the business to be seamlessly preserved whilst providing a better return for creditors generally Pre-Pack occurs where the business is marketed and a sale is agreed prior to the company entering into administration. Whilst the business will be available for sale to independent third parties, typically it is of the greatest value to its existing directors and the majority of pre-pack sales are to the incumbent management team.