subscribers via Standing order

[The Ad Man]

Dear Business Forum,

If a limited company goes into liquidation but has multiple subscribers each month paying their yearly subs via Standing order, is there a way for the company that buys the business to keep / be transferred the standing orders?
Or is the new company only able to contact the customers directly (after the sale) to complete a new form to pay company X, due to change?

A quarter of all subscribers are set up in this fashion?

 

[Spongebob]

The new company would have a new bank account, so the old standing orders would be useless. New standing orders would have to be arranged with customers.

A standing order differs from a direct debit in that it is set up and managed by the payer, and cannot be changed by the payee.

 

[jim_gold]

Spongebob is correct.
New standing orders would need to be set up on a per-customer basis.
Out of interest, is this a real, current situation and if so, are the assets and customer base of this company for sale?

 

[Lisa Thomas]

What are the subscribers paying for?