Bounty to go into administration according to reports

2 November 2020

bounty logo

Bounty which operates one of Britain's most popular websites and apps for new parents, and was established back in 1959 is to carry out a pre pack administration this week according to reports.  As such 300 jobs are expected to go and the new owner will retain about 40 staff.  It is the photography section that is expected to close.

Sources said that Bounty's current owner and chief executive, Alan Charming Chan, was expected to buy its sampling and consumer marketing division from Alvarez & Marsal, the prospective administrator.

New rules on pre pack administrations come in shortly that means that sales to existing owners will need to be scrutinised.

The company has been carrying out what is called an "accelerated mergers and acquisition process" which is a sort of administration sale but the company isn't actually in administration.  However the company is being advised by insolvency practitioners.

Categories: Notice of Intention to Appoint Administrators, Pre Pack Administration Process and Procedures

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