What is an Administration?

Frequently Asked Questions

What is an Administration? 1

An Administration is an insolvency procedure which is used to obtain a breathing space from creditor action, such as bailiffs attending the premises to seize company assets, or preventing a Winding Up Petition being issued.

An Administration gives the Company time to work out what is the best option and formulate a strategy to achieve the best result possible.

This could be a pre-packaged sale of the business, a Company Voluntary Arrangement or even a Liquidation.

In terms of selling a business an Administration offers many advantages to the Company and a buyer. The main one being that it can provide a seamless transfer of the business from the Company to the buyer, thus maximising the value of the sale, while at the same time minimising the disruption to the business.

1

More information can be found on our What is an Administration webpage.

Alternatively, if you would like a free face to face, or telephone meeting, with a Licensed Insolvency Practitioner, please ring 01326 340 579 or 01305 458 383, to arrange a mutually convenient time and date to discuss the options open to you and your Company.

 

  Back to FAQ