Re: management buyouts
Breathe is the cargo that has barely survived being salvaged from a long sequence of scuttled ships. This is at least the third or fourth time since 2003 that Breathe has disappeared up its own backside in this way.
One company is killed or allowed to fail, and all the debts etc are associated with that company, not the directors. New company, (here's one I made earlier, how fortunate) rides to the rescue, to buy up the business and assets through some kind of deal with the administrators of the old company, who is happy for any payment at all to try and fill the massive hole left by the debts.
See 'cleverview', 'vital data', etc., probably ad nauseam.
Interestingly, Unicorn Worldwide Holdings Ltd doesn't seem to be listed at Companies House. Am I mis-typing?
It may well be the same people behind it but if they aren't named as directors then they are technically not involved.
All technically legal, even if it does sound a dodgy way to do business.
Given their history, I'm surprised that anybody they deal with doesn't demand payment up front.