Fri, 05 Mar 2010 | BUSINESS SALE
A doubling in the number of acquisitions of insolvent businesses in the UK is down to "canny buyers" taking the opportunity to pick up a bargain while values are low.
That's according to the President of the insolvency trade body R3, who points to pre-pack administrations as another reason for the increase over the past year.
From October to December 2009, one in nine of all deals completed in the UK involved companies acquired out of administration or other formal insolvency procedures.
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