Pie Face Liquidation

The Pie Face case study concerns the:

• administration of the company

• liquidation of the company

• receivership of the company

The Receiver and Manager's aim was to initially:

• to realise all the assets owned by the company

• distribute any surplus to shareholders according to the company constitution

• restructure the company's finances in order to strengthen the profitability and stability of the business

This was the first time that Pie Face has encountered such financial difficulties.

• true

• false

In early 2015, the business was restructured and came out of voluntary administration with approximately 50 stores. Out of the remaining 50 stores following this stint, only (??) outlets remained.

• 25

• 27

• 28

• 30

Following the Voluntary Administration, Pie Face entered into:

• voluntary liquidation

• a Deed of Company Arrangement

• involuntary liquidation

• receivership

The new senior management team, as well as the receivers, believe that the prospects for Pie Face, was financially hopeless.

• true

• false

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