Understanding Administration
Administration is not a debt solution on it’s own. It is designed to give a company breathing space while a long term solution is found. The ultimate solution doesn’t have to be an Insolvency action (Liquidation or a CVA), it may be waiting for time while money comes into the company, selling the business on or raising finance so the company cane move on.
Administration is mainly suited to businesses that are under a lot of pressure and need time to get a solution together,