According to newspaper reports, the Business and Enterprise Regulatory Reform committee is to question the Insolvency Service over whether any changes are needed to the current legislation.

The move follows the pre-pack acquisition of retail giant USC by a vehicle controlled by its former owner Sir Tom Hunter, which has propelled the process onto the front page of the papers.

Pre-packs have been on the rise across the board but nowhere have they been more prevalent than the print industry where almost all M&A over the past 12 months has come in the form of pre-pack administration deals.

According to the Daily Telegraph, business advisers and creditors are being asked to submit their views to Peter Luff, the Tory chairman of the BERR committee.

The news comes just days after new guidelines regarding the pre-pack process came into force aimed at increasing transparency across the process.

The rules were introduced by the Insolvency Service and have been attacked by the print industry as doing little to stem the rise of pre-pack administrations.