BTG secures going concern sale out of administration

The Challenge

An inland surfing park employing over 200 staff with 200,000 annual visitors, faced severe financial distress. BTG were initially instructed by the secured creditor to run an accelerated M&A process with the objective of delivering a solvent sale or, if required, a going concern transaction to preserve the business and value. However, shortly before the intended completion of a pre-packaged sale, the directors of the Company ceased trading and closed the site at short notice.

Our Approach

We immediately appointed Joint Administrators, taking control of the business and its assets. Our restructuring team worked around the clock engaging strategic buyers within the surfing industry who understood the unique value of the business. Running an intensive 24-hour sale process, we negotiated terms protecting jobs and operational continuity whilst addressing purchaser concerns around immediate reopening and brand reputation restoration.

The Outcome

We completed a going concern sale within 24 hours of administration, securing all 200+ jobs and ensuring continuity under new ownership. Normal operations resumed immediately, minimising disruption to staff and customer, while also protecting the reputation of the company.