What is a Company Administration?

 

 

 

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A company administration is a formal insolvency process which is designed to rescue the viable elements of a struggling business. It's also a process that will help increase returns for your creditors prior to the company being dissolved. A licensed insolvency practitioner will be appointed as part of the process, and they will then assume control of the company while it remains in administration.

If your company is being threatened by aggressive creditors such as your landlord, HMRC, your bank or your suppliers and you fear you'll be taken to court and put out of business, then your business may well benefit from a company administration.

You should consider the following to determine whether an administration is appropriate for your company. Firstly, your business should be insolvent, and there should be a significant amount of assets or value in the business. The cash flow and the profitability of your business should also be reasonably predictable. If you'd like to know more about company administrations and how we can help you rescue your business, then please contact the Real Business Rescue team today to arrange a free initial consultation.