Exited sector - rump businesses

Finalising a repositioning almost always leaves the most problematic subsidiaries to last 

Sector: Construction services

Situation: Group moved into new sector and existed old operations but was left with one rump business, loss making with onerous leases and the company's presence was compromising preparations for planned IPO

Solution: Dispose of to independent control

Outcome: Cleared decks for work towards a clean group IPO proposition

Co run for period under independent control and negotiation on exiting leases undertaken but when this was unsuccessful the Co was then liquidated once well outside the group with no group reputational issues