Company Administration
If you’re looking to receive expert help, advice and tailored support to place your company into administration, you’ve come to the right place. Here at Restart BTi, our fully-qualified Insolvency Practitioners are ready to explore your options on how to efficiently turn your business around. For more information, explore the content below or get in touch with one of our team members today to organise a free consultation to discuss your unique scenario.
What is Administration?
Administration is an insolvency procedure that will provide the company with immediate protection from any legal action being taken by creditors. The process can be commenced by the directors, a lender or a creditor and can be done without the courts involvement. The administration must achieve one of the following pruspes:
- Rescue the Company most likely with the use of a use of a Company Voluntary Arrangement.
- Release of assets to make a distribution to secured and/or preferential creditors.
- Securing a more advantageous outcome than liquidation.
What happens if a company goes into administration?
The administrator takes control of the company and will set out their proposal for achieving the purpose of the administration within eight weeks of the appointment
This means that the Director(s) and Shareholders will no longer have control over the management and restructuring of the business. The status of the business also becomes public knowledge, which may see disruption in staff, creditor and customer-relationships. Here at Restart BTi, our team will work closely with you to ensure that this process runs as smoothly as possible.
How long can a company be in administration for?
It can be difficult to predict exactly how long a company could be in administration for. Typically, the whole process can last for around 12 months, but this depends on the size of the company. The period of administration can be extended initially by creditors, thereafter by court application.
Get company administration help with Restart BTi
If you’re considering entering your business into administration, it’s important that you receive expert advice to ensure that this is the best route for you. We understand that this process is difficult and complex, which is why our experts will help you to come to a resolution as fairly and efficiently as possible to help you resolve all outstanding issues. To learn more about how we can help you, simply get in touch by calling or by filling out the short form below.
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Restart BTi
Suite 42 Dunston House
Dunston Road
Chesterfield
Derbyshire
S41 9QD
- 01246 959 388
- Fax: 03333 444 993
- Email: enquiries@restartbti.co.uk
Restart BTi is the trading name of Restart Business Turnaround Insolvency Limited, a limited company registered in England and Wales no: 11517419
Registered Office: Suite 42 Dunston House, Dunston Road, Chesterfield S41 9QD
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