Buying Failing Companies

[oliver3487]

Hi,

Does anyone have any good ideas of places to find companies that have gone into administration? (for the purpose of looking for one to buy)

oliver

 

[british steve]

http://www.gazettes-online.co.uk/

 

[Rhodes100]

http://www.business-sale.com/receiverships.html

 

[oliver3487]

thanks for replies, any other suggestions anyone

 

[jim_gold]

Thanks Rhodes100.

I have to add that at www.business-sale.com mentioned above, we provide a more enhanced service than the Gazettes Online, as we:-

[1] also obtain information directly from the courts - time advantage
[2] cross-reference against our own database of all insolvency practitioners in the UK for more accurate and fuller contact details
[3] cross-reference Companies House data for additional information on assets
[4] often get enhanced details on companies in administration direct from the administrators, where those companies are being put up for sale as going concerns
[5] send out daily administration email alerts
[6] for no extra charge we provide a database (and email alerts) of all winding-up petitions presented against companies - a pre-warning service that many buyers of distressed businesses like to use as well.

 

[The Pines]

Thanks Rhodes100.

I have to add that at www.business-sale.com mentioned above, we provide a more enhanced service than the Gazettes Online, as we:-

[1] also obtain information directly from the courts - time advantage
[2] cross-reference against our own database of all insolvency practitioners in the UK for more accurate and fuller contact details
[3] cross-reference Companies House data for additional information on assets
[4] often get enhanced details on companies in administration direct from the administrators, where those companies are being put up for sale as going concerns
[5] send out daily administration email alerts
[6] for no extra charge we provide a database (and email alerts) of all winding-up petitions presented against companies - a pre-warning service that many buyers of distressed businesses like to use as well.

Jim Gold,

I *think* it was you who mentioned that the average time taken to sell a business via a broker was about 18 months / 2 years. This would be for a business trading as normal.

Do you have any rough info as to the time taken to sell a business in administration??? (If it sells at all, that is...)

 

[jim_gold]

It will be much shorter than that, surprise surprise. I think the stats for regular trading companies took into account the fact that many businesses are not easy to sell at the price tags put on them. One or two business brokers couldn't care that much if it it even sells at all as they have already made their sign-on fee and undertaken their contractual obligations to promote to a point. It's usually the vendor who wants too much, but on occasion the broker, if he is competing to win the business for a sign-on fee.

If you are looking at all businesses in administration, then the stats are going to skewed by the significant proportion that are stitched up very quickly in a pre-pack. Take these out of the equation and you are talking one or two months in general. It would be interesting to do some research on this so thanks for the idea. I was involved in a big commercial property administration last year in that I was putting together a consortium to bid. It went into administration in January and was tied up my early May in a deal worth £11m (too high for us). Because of the property element this took 4 - 5 months, which would be at the longer end of the scale.

 

[The Pines]

If you are looking at all businesses in administration, then the stats are going to skewed by the significant proportion that are stitched up very quickly in a pre-pack. Take these out of the equation and you are talking one or two months in general. It would be interesting to do some research on this so thanks for the idea. I was involved in a big commercial property administration last year in that I was putting together a consortium to bid. It went into administration in January and was tied up my early May in a deal worth £11m (too high for us). Because of the property element this took 4 - 5 months, which would be at the longer end of the scale.

Thanks for the info.

When you say "the stats are going to skewed by the significant proportion that are stitched up very quickly in a pre-pack", off the top of your head, what % would you reckon this to be (i.e are part of a pre-pack)???

Thanks again

 

[Clinton]

The Pines, I've gone after many companies in administration and every single one (worth buying) was a stitch up pre-pack.

we provide a more enhanced service than the Gazettes Online

Yes, but it's a whole £195, Jim (which you don't disclose till people have given you name, address and inside leg measurement ). And your page doesn't even say whether it's a lifetime, annual or monthly fee.

 

[jim_gold]

Yes, but it's a whole £195, Jim (which you don't disclose till people have given you name, address and inside leg measurement ). And your page doesn't even say whether it's a lifetime, annual or monthly fee.

I won't apologise for not running a charity, Clinton. Our subscribers get a huge amount of value for their subscription, which is why most renew even after buying a business.
The subscription price is clearly and prominently mentioned on the subscribe page, right above where people give their name and email.

Thanks for the info.

When you say "the stats are going to skewed by the significant proportion that are stitched up very quickly in a pre-pack", off the top of your head, what % would you reckon this to be (i.e are part of a pre-pack)???

Thanks again

Hi The Pines,
We last surveyed a two week period earlier this year and found 45 per cent were pre-packs. If I remember, I'll post again when we carry out our next survey.

 

[The Pines]

I If I remember, I'll post again when we carry out our next survey.

Thanks Blondie!



(The Clint Eastwood character, not the 70's rock singer/druggie)

 

[Clinton]

jim_gold, my apologies. The costs are listed on the first page of the registration process. I've no idea how I missed it.

 

[adventurelife]

The Pines, I've gone after many companies in administration and every single one (worth buying) was a stitch up pre-pack.


Yes, but it's a whole £195, Jim (which you don't disclose till people have given you name, address and inside leg measurement ). And your page doesn't even say whether it's a lifetime, annual or monthly fee.

I pay and if my memory serves me right the cost was upfront. £195 is a drop in the ocean if you are seriously considering taking on a bust company. I have done it several times and the cost is not the purchase although that is often a serious cost, it is the investment after the purchase to turn it round.

The data is limited but it gives you the lead and the contact which is enough to get chasing. Do agree with Jim that a huge amount do seem to be pre packed in a deal so you cannot get near.