This is a question that has been posed by many of our clients. The best way to summarise the answer into a single sentence would be to say:
Yes, it is possible to change the name of a company during administration, but you might need the consent of the administrator or administrative receiver.
If you decided to enter into administration voluntarily then you should have no problem requesting a name change during the procedure. A voluntary administration is a procedure in which you would appoint an insolvency practitioner to act as the administrator of your company in order to facilitate restructuring and recovery. Companies frequently undergo a name change prior to entering formal insolvency procedures.
I understand that the last people you would ever want to speak to would be a business rescue firm, but I also know that trying to understand your options can be equally challenging. I have seen every eventuality in business and can help clarify what your options are.
There are a number of reasons why a company would want to change its name before, during or after administration, and there are several ways this can be done. If the administration is voluntary and is currently being planned or is already under way, then you could simply discuss the issue with the insolvency practitioner you've appointed as administrator.
You simply file a resolution to change your name with Companies House. Changing a company's name is typically a simple and affordable process that doesn't involve any complicated paperwork or lengthy wait times.
Learn more about the company administration process. If your company is having financial troubles and you're considering the possibility of entering into administration voluntarily, or you have questions about changing your company's name during administration, feel free to email us or call us on 0800 644 6080 for free confidential advice. With 72 offices stretching from Inverness down to Exeter, Real Business Rescue can offer unparalleled director advice across the UK.
14th February 2019
The bakery chain business Patisserie Valerie has been acquired out of administration by an Irish private equity firm called Causeway Capital Partners.Read More
13th February 2019
The department store operator Debenhams has secured access to a £40 million credit facility that should help it cope with the pressures of its ongoing funding crisis.Read More