The Business Sale Report has launched the first interactive UK map that details the locations of all distressed companies that have recently collapsed into administration.
The 'mash-up' - seen at http://www.business-sale.com/administrations/map - pulls in details of distressed businesses from the Business Sale Report's in-house databases and displays the information with the help of Google Maps technology. It succeeds in painting a more vibrant picture of potential target businesses, beyond the black and white of text listings and can reveal interesting geographical clusters. An additional layer of information can be seen by subscribers to the Business Sale Report, who can zoom right in on potential targets and view financial and contact details of administrators handling any potential sale of the business or related assets.
The Business Sale Report's Stephen Ideh said that every detail is crucial when it comes to the buying and selling of businesses, and the map provides a crucial - and until now unfulfilled - service.
"This map is the first in the UK to provide a comprehensive, geographic picture of businesses that are facing distress" he said.
"There is no other service like it, but the benefits of it are abundantly clear. Prospective buyers of distressed companies and assets want to be able to see at a glance where the latest business administrations are in their region, and this allows them to do that. They can also identify clusters of distressed businesses in the UK and also, thanks to the labelling on the map, will be able to see whether there are other types of business in which they may be interested, elsewhere in the UK."
Businesses are flagged up with pin-pointers on the map which, when clicked on, bring up more of the information about the particular business that is contained in its full listing. Many entrepreneurs monitor the distressed business marketplace for competitors who have been placed into administration. They capitalise on their competitor's failings by purchasing the business, bidding for customer databases, equipment and property or taking over the beleaguered company's profitable contracts.
When a company faces severe financial difficulties, one or more of its creditors (or the company's own directors) can force it into administration. The administrator, a licensed insolvency practitioner, will want to rescue the business as a going concern or achieve a better result for the creditors than if it put the business into liquidation. This is often achieved by selling the business, or, if this is not possible, by selling the company's assets. In many instances, the business is still trading.
The Business Sale Report Administrations Map is now live, with the full details of the businesses available to subscribers.
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