Overview
Mark Fine, partner at law firm McDermott Will & Emery, said:
“The pre-pack sale helps maintain business continuity, reduces value erosion and helps preserve jobs which is paramount in this current environment. The tool has been used to good effect already this year particularly across the retail sector with recent examples being Byron Hamburgers and Cote. These new laws will hopefully, when introduced, continue to increase confidence in the process and seek to build on SIP 16 which came into force a number of years ago to help enhance the transparency around such pre pack sales by requiring additional marketing and disclosure requirements.”
