Administration

The main purpose of an Administration is to save the business of an insolvent company. Mostly instigated by the directors, Administration is a process which enables a business to continue to trade whilst a buyer is found. A so called “pre pack” Administration is where a sale of the business is negotiated prior to the appointment of the Administrator but concluded by him.  A purchaser can be existing management or a completely independent third party.

A successful Administration can benefit employees, creditors, customers, funders and management.

For more information about how an Administration works click here