Administration is a common legal strategy for rescuing businesses facing cash flow problems that could still have a chance of returning to profitability.
The process can offer breathing space from outstanding debts and threats from creditors, as well as the possibility of finding a solution for recovering the insolvent company.
Once a company enters administration (either voluntarily or through a Court order) it is managed by a licensed insolvency practitioner to fulfil the best possible outcome for the company’s creditors.
During this period, all legal action is stopped and the business is safeguarded against creditor enforcement action. This offers a chance for restructure and the preparation of financial plans to rescue the company within an agreed time frame.
Using the company’s assets to repay creditors as quickly as possible via administration can be an effective way of turning around a business.
If you’d like to know more information on whether this is the right route for your company, get in touch with us today. We can put you in touch with industry experts to advise you on any matters relating to your business.
Get a call back
If you need to speak to us about a general query fill in the form below and we will call you back within the same working day.
News and Insights
Plymouth City Council has been allocated £5.2 million through the Government’s Additional Restrictions Grant (ARG) to support local businesses that have been most impacted by the current national c…
Save Time and Money Managing Your Expenses With Receipt Bank Irrespective of whether you’re a big or small SME, already established or are just starting out, managing your costs and accurately track…
‘Very Positive Experience’
Clifton Contracting Ltd
‘Overall it has been an excellent experience’
Ian Tarry- in-house training company
‘Refreshing and supportive’
‘Very knowledgeable, helpful and super responsive’
‘Professional & friendly service, very helpful’
‘Recommend to anyone in business’
Recommend to anyone in business for great down to earth advice at a sensible price.
Marl Lyes- Trinity House 3 Ltd
‘Down to earth advice’
‘The whole process seemed a lot easier than first imagined!’
Once the basic setup was sorted I was allocated Emma, who was available then to guide me should I have any queries! Thorough training on Quickbooks and always available (within office hours) to sort my mess up or any queries no matter how mad they seemed! Always willing to help and no task to small! Thoroughly recommend Emma to anyone looking to use TS Partners as their accountants!
5 months in and still running smoothly! With no grey hairs in sight! (YET!)
Thanks to Emma, Matt and the team at Tax Shop, Wellington
Dominic Buck- Car Valet company
‘Excellent Professional and Friendly Service’
‘We know we are in good hands!’
Kevin Godding- Coffee shop, London