Administration

Invaluable opportunity

Administration can provide businesses with an invaluable opportunity to determine their best long-term options and strategy.

Formal insolvency process

It’s a formal insolvency process which results in a company being placed under the direct control of a licensed insolvency practitioner (IP), who immediately takes charge of its overall daily management.

Licensed insolvency practitioners, like CG&Co, are bound by the statute to rescue the company and ensure it continues trading as a going concern. If this isn’t possible, the administrator must aim to achieve a better result for the company’s creditors than would occur if the company were placed into liquidation.

Creditors – amongst others – are prohibited from taking or pursuing legal proceedings against the company while it is in administration.

Expert insolvency guidance

“Entering administration is intimidating for businesses as it’s normally an unfamiliar process – but in some circumstances it can enable them to return to profitability. It’s for these reasons that companies must seek the most experienced and expert insolvency guidance at the earliest opportunity.”

Daniel Richardson, Partner – CG&Co

For independent and expert guidance on administration, call CG&Co today on
0161 358 0210. Alternatively, click here.