Financial advisory firm sold in pre-pack deal

Create Financial Management, the Derby-based advisory business, has been sold out of administration in a pre-pack deal.

Benjamin Wiles and Allan Graham, both of Kroll Advisory, were appointed joint administrators to the firm, which is on Wyvern Business Park, on October 1.

On appointment the joint administrators completed a sale of the business and certain assets of the company on 1 October 2021 to a third party.

Wiles said: “The pre-packaged administration has also allowed all 13 members of staff who were employed by the company at the date of appointment to transfer to the purchaser under TUPE and thus reducing both preferential and unsecured creditor claims in the administration.

“The transaction has also maintained continuity of the company’s customer base, which has preserved the value of the company’s business and assets as far as possible. This will also ensure that debtor recoveries are maximised.”