Moore Kingston Smith Licensed Insolvency Practitioners appointed joint administrators of Bounty Joy Limited

On 29 November 2022, Ryan Davies and Neil Mather of Moore Kingston Smith Licensed Insolvency Practitioners (‘MKSLIP’) were appointed joint administrators of Bounty Joy Limited (‘Bounty’), a business-to-business (‘B2B’) marketing and photography business.

The B2B division involved the distribution of marketing samples and products via ‘Bounty Packs’, online media and e-mail programmes providing pregnancy and parental advice. The photography division provided photography services to new parents under contracts with hospitals across the UK.

The COVID-19 pandemic severely impacted the ability to deliver the B2B and photography services, creating cash flow pressures on the business. Despite lockdowns fully easing, the photography division had not recovered as some hospitals were reluctant to allow full access to photographers.

MKSLIP were engaged to advise on restructuring options, which was extended to include a merger & acquisition process in conjunction with a specialist agent. An offer was made for the business and assets of the B2B division and by way of a pre-packaged sale a deal was completed upon Bounty being placed into administration, preserving a number of jobs.

If you have any questions regarding the restructuring and insolvency process, please get in touch with the experienced team at Moore Kingston Smith Licensed Insolvency Practitioners. Our team can offer practical, down-to-earth advice to help ensure reasoned solutions for your business.