What is an Administration?
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.
More information can be found here.
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.
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