We were instructed to sell the assets of an industrial company which had entered into Liquidation, where the directors had fallen out and were both competing to purchase the assets.
For a variety of reasons the Insolvency Practitioner client decided that in addition to including the former directors in the bidding process, the assets had to be marketed to a wider audience.
The potential asset realisation was relatively modest and the practitioner did not feel the cost of mainstream advertising in for example the Businesses for Sale section of the National Press could be justified. Furthermore, the speed at which the process had to take place meant booking deadlines for even weekly press, let alone monthly press, were simply not a viable option.
To make the case even more difficult, we received our instructions just four days before Christmas.
Using our website and our enormous email database, together with our understanding of the way the assets of a company in liquidation should be sold, we completed a successful sale on the morning of Christmas Eve, and in this instance for a substantially greater sum than was originally anticipated. As the company could not be traded by the Insolvency Practitioner for a variety of practical reasons, if we had not achieved the sale when we did, the impending Christmas closedown would have made any kind of sale other than a break-up sale of the physical assets, effectively impossible, as the goodwill would have been lost.