Quote:
Originally Posted by RichardCoulter
I would have thought that they would have tried to sell the business for a nominal fee like £1, with the new owner taking on the debts or dissolved the company and replaced it with another to rid themselves of any debt.
|
That will still be an option if the CVA fails. It looks like the new investors don't want the debt as they have made the investment deal conditional on the CVA going ahead.
It probably doesn't make sense to take on the debt when the investors could simply start up a new company, possibly taking on the existing staff and allowing the existing company to fail.
Bad news for the creditors, however it goes.