Administration (Insolvency)

Administration (Insolvency) is a legal process that helps financially troubled companies. When a business cannot pay its debts, it can enter administration to protect itself from creditors while a professional administrator steps in to manage it. The administrator's goal is to restructure the company, sell its assets, or find buyers to ensure creditors are paid as much as possible. This process aims to save the business and jobs while providing a fair outcome for those owed money. It's a way to navigate insolvency with a focus on recovery and minimizing losses.