For help and advice contact Sheffield 0114 2859500 or Rotherham 01709 331300
If your company is having financial difficulties you (or a secured creditor – see Administrative Receivership) can apply to the court to place it into Administration.
Administration places your company under the control of an insolvency practitioner who will deal with its affairs, business and property. Whilst in Administration your company has the legal protection of the court and creditors are prevented from taking any actions against it without the permission of the court or the administrator.
Right for your business?
Administration is designed to help struggling but potentially viable companies. It is an effective process, but the circumstances need to be right and there are clear guidelines to comply with. Administration is likely to impact on trading relationships with key suppliers.
Prompt advice is crucial for you to determine whether Administration is the best option for your business. Call us on 0114 285 9500.