Our clients, the owners of a long-established family catering business, instructed us to act on the sale of the business’s goodwill and assets as they prepared for retirement.
While the transaction involved the usual preparation of an asset sale agreement and responses to title and business enquiries, it also required careful handling of several additional matters. These included the transfer of employees under TUPE regulations, negotiations with the buyer’s solicitors over the grant of a new lease of part of the commercial property, and the drafting of a legal charge to secure payment of purchase instalments that remained outstanding at completion.
We guided our clients through each stage of the process, ensuring all employee transfers were managed smoothly, protecting their interests in negotiations, and providing clear explanations of the commercial and legal implications.
Despite the complexities, we achieved a successful transfer of the business and secured our clients’ retirement plans. They valued our ability to manage multiple moving parts of the transaction while offering reassurance throughout the handover of a business they had built over many years.
