Ince & Co - the story on the news page

The story about Ince & Co being put into administration before its take over by GD - something dodgy there, surely?

Apparently profits were up year on year to end of April 2017:

https://www.lawgazette.co.uk/practice/bought-out-ince-and-co-entered-administration-last-month/5068783.article

 

your apparently should be a "maybe they were, we think they were but we don't keep any records of money, oh crumbs is that our landlord!"

heh @ sumo

 

I'm surprised they didnt go the the whole hog and CVA the landlords into next week

"Pre-packs are notorious for enabling a purchaser to buy a business free of its liabilities, potentially leaving creditors in the lurch. Its use has led to accusations that Ince Gordon Dadds engaged in sharp practise."

I believe the real world calls it "rational behaviour". 

So any corporate seller/buyer can arrange for the target co to be put into administration and the buyer to purchase via a pre-pack, regardless of the actual financial health of the target?  

 

depends on the nature of the business and its condition and who is pulling the strings/has the right to appoint an administrator i'd have thought.,

 

 

If anything untoward has been done, I hope Ince get screwed. 

I wasn't really thinking "crashed into administration" I was thinking more that agrred to go into a voluntary windup.... which now I come to think of it was a bit dumb of me