In August 2025, Grade (UK) Limited, trading as Vision Plus, entered administration following several years of challenging trading conditions. Vision Plus is a well-established manufacturer and distributor of television antennas and related products for the caravan, motorhome, and marine markets.
Despite investment in innovative new Wi-Fi-enabled antenna technology, the company struggled with:
· A 25% drop in sales in 2024, followed by a further 25% decline in the first quarter of 2025
· Shifting consumer demand and increasing competitive pressures
· Long-term declining market conditions in the recreational vehicle sector since 2018
With the business unable to achieve the turnaround required, Leading Business Services were appointed as joint administrators.
The Solution: A Pre-Pack Sale
Our team secured a pre-packaged sale of the business and its assets to an unconnected buyer. This approach allowed us to:
· Preserve the ongoing value of the business
· Secure employment where possible
· Maximise returns for creditors
What is a Pre-Pack Administration?
A pre-pack administration is a restructuring process where a sale of the company’s business and assets is arranged before administrators are formally appointed. Once appointed, the administrators complete the sale immediately.
This strategy offers several advantages:
· Continuity of operations, reducing disruption to customers and suppliers
· Safeguarding jobs wherever possible
· Achieving better returns for creditors than if the business were broken up and sold piece by piece
Why This Matters for Local Businesses
This case highlights how rapidly market conditions can change, particularly in niche industries. For directors, taking early advice when challenges arise can create space for solutions that protect jobs and maintain value.
At Leading Business Services, we work closely with directors, stakeholders, and professional partners to explore all available restructuring and insolvency options. In cases like Vision Plus, a pre-pack deal can provide the best possible outcome for both employees and creditors, while allowing the business to continue under new ownership.
If your business is facing financial pressures, early professional advice can make all the difference.
