Informal Wind-Down

IN CERTAIN INSTANCES, A TURNAROUND, RECOVERY OR SALE OF A BUSINESS IS NOT THE OPTIMAL SOLUTION FOR STAKEHOLDERS

In terms of Chapter 6 of the new Companies Act, Business Rescue is a process to rehabilitate and rescue a financially distressed company.

In such instances, one of the possible solutions is a wind-down of the business, either as part of an informal process, or a formal process

The wind-down process aims to wind-down the business as effectively as possible, while maximising value for stakeholders.

The process involves a combination of various procedures, dependent on the specific matter, such as:

  • A Mergers & Acquisition process for the sale of the business’ assets.

  • The closure and exit of non-saleable, non-performing divisions or assets.

  • Minimisation of job losses.

African Venture Group

1 Nollsworth Crescent, Umhlanga, Durban, 4051

 

National:

078 115 6607

International:

+27 78 115 6607

Email: info@africanventuregroup.co.za

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