The business had been struggling financially for a number of years, suffering dwindling revenues due to increased competition from a multitude of travel websites.
What We Did
We carried out a valuation of the tangible and intangible assets of the business after receiving instructions from the proposed Administrator. We then proceeded to market the assets of the business to a number of carefully identified interested parties.
After an extended period of complex negotiation, we successfully concluded a sale of the business to a company operating a related business, looking to expand their product range. Several staff were also retained by the new owner, saving several jobs.