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Home > Our Services > For Business > Portland > Administrations

Administrations

Two Business People

Administrations are a process that provides creditors with a better outcome than a winding up by achieving:

  • The rescue of the company, perhaps after a company voluntary arrangement to restructure its finances
  • The better realisation of assets, perhaps following the disposal of the company's business as a going concern.

Further details about the technical aspects of administration are described through the link.

Like CVAs, administrations are highly compatible with Portland's approach towards saving companies and their businesses.

  • They are intended to encourage creative, flexible and practical ways to avoid better winding up
  • They are based upon the close involvement of creditors and carrying their trust.
  • They allow a period of protection to implement real business improvements.

Even where the procedure is used as a form of winding up, we have used administrations to achieve better outcomes than liquidation by completing going concern sales.

Examples of where we have used administration effectively are set out below.

  • Sorting out operational difficulties
    Administrations are principally intended to save the company by creating a breathing space. Sometimes this is needed when the financial position needs to be clarified and the future path mapped out. See how we helped Martin do this when he overstretched himself.
    more...
  • Exploring the prospects of refinancing the business (1)
    Administrations are principally intended to save the company by creating the business. Sometimes this is needed to explore properly the prospects of raising new equity. This process needs dogged determination and even if it is not successful, administration can still provide a better outcome than liquidation as Peter found in this case.
    more...
  • Exploring the prospect of refinancing the business (2)
    Administrations are principally intended to save the company by creating the business. Sometimes this is needed to explore properly the prospects of raising more money from existing shareholders. This process needs dogged determination but perseverance can pay off, as George found in this case.
    more...
  • Achieving better outcomes than liquidation
    Sometimes it is not possible to save the company for reasons outside the directors' control but Tim and Martin still found the protection of administration to be a significant comfort whilst we worked with them to secure a good home for the business as a going concern.
    more...


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This document explains the relevant position only in general terms. We do not intend it to be used as formal advice about a specific situation, for which you should consult with a qualified insolvency practitioner and not rely upon this document. Portland would be pleased to advise you formally and you should contact one of the directors listed to arrange this. Portland regrets it is unable to accept any responsibility to anybody who seeks to rely on this document.