There are numerous administration options available and, following your initial consultation, a member of our professional team will be able to explain the process in greater detail.
Company administration is a method that can be used by a company to deal with financial problems it may be experiencing. The team of professionals at Streets SPW has a wide range of experience in this area and is there to help your company consider the various administration options available so that the most effective rescue package may be chosen.
The primary aim of company administration is to rescue the company as a going concern. The business is kept intact, its assets protected and the company has some breathing space while plans are drawn up by the administrator to sort out the problems and restructure as necessary. Where a rescue is not feasible, the purpose would be to achieve a better result than would be forthcoming from an immediate winding up.
If neither of these options is a possibility then the administrator can realise the assets of the company and distribute the proceeds to secured or preferential creditors.
For many businesses in need of a financial rescue programme, going into administration can provide some much-needed breathing space and help your company get back on track.
A pre-pack administration is where the administrator completes a pre-arranged sale of the business and/or its assets immediately after the company has entered administration. In certain cases this sale will be to the previous directors or management.
If your business is experiencing financial problems and you are struggling to see the wood for the trees, speak to a member of the expert team at Streets SPW today. We have helped clients across the country cut a clear path through the legal process of administration.