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2015 review: July

All the business news, from acquisitions to liquidations, investments to divestments, from a year in the industry.

Printers say ill-considered pre-packs still need regulation

Pre-packs, and their more infamous relation, the phoenix, have been a feature of the print industry since the Enterprise Act 2002 made administration the dominant form of insolvency. As with many legislative reforms, the aim was noble but the consequences were not properly considered. So while the reforms were intended to create a 'rescue culture' to allow insolvent businesses - and the jobs they supported - to be saved wherever possible, the unintended consequence was the creation of a debt-dumping culture among directors of failed businesses.

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