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What does it mean when a business changes it's business name/ (Read description)

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  • 27-07-2018 9:54pm
    #1
    Hello 1
    Closed Accounts Posts: 177 ✭✭


    Recently, I saw an advert for a business which read:

    "( Business A) formerly ( Business B ) under the management of ( Business C)"

    does this mean that Business B was sold to Business C, or something else?

    Anyone able to throw some light on what the above means?

    Thank you.


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    #2
    Gloomtastic!
    Registered Users Posts: 8,479 ✭✭✭Gloomtastic!


    Hello 1 wrote: »
    Recently, I saw an advert for a business which read:

    "( Business A) formerly ( Business B ) under the management of ( Business C)"

    does this mean that Business B was sold to Business C, or something else?

    Anyone able to throw some light on what the above means?

    Thank you.

    Usually means Business B was run into the ground by the management so Business C, who have been running a similar business successfully, have taken over Business B and renamed it Business A. Although calling Business A Business C would probably be preferable but they can’t because they have a place name in their name.

    Is that clear? :)


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    #3
    Hello 1
    Closed Accounts Posts: 177 ✭✭Hello 1


    Gloomtastic! wrote: »
    Usually means Business B was run into the ground by the management so Business C, who have been running a similar business successfully, have taken over Business B and renamed it Business A. Although calling Business A Business C would probably be preferable but they can’t because they have a place name in their name.

    Is that clear? :)

    Thank you! So does this mean that Business B has been basically sold to the owners of Business C?


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    #4
    Gloomtastic!
    Registered Users Posts: 8,479 ✭✭✭Gloomtastic!


    Hello 1 wrote: »
    Thank you! So does this mean that Business B has been basically sold to the owners of Business C?

    Yes. But it may have been quite cheap! :rolleyes:


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    #5
    Hello 1
    Closed Accounts Posts: 177 ✭✭Hello 1


    So does it mean that the former owners/managers of Business B are no longer part of the management structure of the newly formed company (Business A)?

    What does this new management structure mean for them?


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    #6
    Gloomtastic!
    Registered Users Posts: 8,479 ✭✭✭Gloomtastic!


    Hello 1 wrote: »
    So does it mean that the former owners/managers of Business B are no longer part of the management structure of the newly formed company (Business A)?

    What does this new management structure mean for them?

    It usually means they are out on their ear and the new guys are trying to make the business work using tried and tested management processes.


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    #7
    Paddy001
    Registered Users Posts: 724 ✭✭✭Paddy001


    This could simply mean that business B has changed its name to business A. There are certain circumstances where a company must disclose all its former names for a period of 2 years. If you want to PM me the names, I can check.


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    #8
    Raging_Ninja
    Registered Users Posts: 1,717 ✭✭✭Raging_Ninja


    Paddy001 wrote: »
    This could simply mean that business B has changed its name to business A. There are certain circumstances where a company must disclose all its former names for a period of 2 years. If you want to PM me the names, I can check.

    Not sure why it would need to be done via PM as it's a matter of public record.

    The procedure is called examinership and it's where a court appoints another company or organisation
    to take over the running of an insolvent company on an interim basis.

    It's not necessarily true that because a company is being managed by another company that it is now owned by it. For instance, the Eye Cinema in Galway was being managed by the IMC Cinemas as the Eye was in examinership, but they are two separate and distinct companies. I believe that the Eye is no longer in examinership but could be wrong there.

    Wikipedia has a good description of the procedure: https://en.m.wikipedia.org/wiki/Examinership


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