Here at The Insolvency Experts, we have helped many companies in the UK to find the ideal solution for their current financial troubles. One of the main options open is that of Administration, which may or may not be right for your company, depending on your exact financial situation. Our financial experts have put together this short guide to inform you on the potential merits of such an option.
Table of Contents
- What is Administration?
- What are the advantages of Administration?
- How does a CVA work within Administration?
- What are the disadvantages of Administration?
- How do employee entitlements work within Administration?
- How can I move forward with exploring Administration?
What is Administration?
When a company enters administration the control of the company is passed to an appointed administrator. Their primary goal is to then leverage the company’s assets to repay creditors as quickly and as fully as possible. There are a range of advantages and disadvantages to be considered for administration.
What are the advantages of going into Administration?
As you consider the possibility of entering an Administration process, you should be aware that there are a variety of advantages to the process, including:
How does a CVA work within Administration?
What are the disadvantages of Administration?
As you consider the possibility of entering an Administration process, you should also be aware that there are a variety of disadvantages to the process, including:
How do employee entitlements work within Administration?
How can I move forward with exploring Administration?
Whatever worries you have about your financially distressed company, you can contact our team at The Insolvency Experts today on 0300 303 8284 or via our contact us page.
We’d be happy to talk you through your available options through a free consultation as we assess your current financial situation and determine the best path forward.