Up against the clock

An insolvency practitioner handling a pre-appointment case in the Midlands was up against the clock. The primary challenge for the IP was to find a buyer/investor before the business was pushed into administration because a bank with a substantial loan outstanding could pull the plug at any moment and would then set its own agenda.

Through IP-BID.com the IP was able to cast the net widely and test the market quickly, receiving a significant number of expressions of interest from serious potential buyers within 24 hours. These expressions of interest also helped to validate further expressions of interest from interested parties introduced by the existing management.