Administration is a formal rescue procedure with the primary purpose of rescuing the Company or at least to provide a better return to creditors than would be available in another process.

A court process appoints a Licensed Insolvency Practitioner as Administrator of the Company and one of the key benefits of Administration is the immediate protection from any further creditor action (moratorium).

An administration if often required to protect the goodwill of the business in support of a business sale.

A pre pack administration is where a pre-arranged sale is completed immediately upon appointment with little or no external marketing.  Whilst this may appear to lack transparency, when used appropriately it can often result in a better return to creditors.  This can be due to the seamless transfer of the business to avoid diminishing the goodwill, ensure continuity of employment, reduce costs of trading the business during the marketing period and increasing certainty for all stakeholders.

Whilst a straightforward process an administration of any kind requires careful planning and a comprehensive strategy to ensure the best result is achieved in the timescales required.

CBA Business Solutions are experts in dealing with all manner of administrations and pride ourselves in delivering innovative solutions to achieve the best outcome for all parties.  You can trust both us and our network of professional associates to ensure quality advice is delivered most importantly within the tight timescales that are often required for a successful administration.