Here at Neville & Co we help directors with an Administration in Plymouth or anywhere within the South West.
The company directors can put a company into Administration as can any Bank or third party if they have a debenture. An Administration Moratorium protects the company for a period of time whilst a solution is worked out.
An Administration procedure tends to be used when it will be more beneficial to trade an insolvent company allowing the Administrator time to market and look to sell the company as a going concern rather than it to have to cease trading. This can mean that a business can be saved and employees may be able to keep their jobs.
At our initial free meeting we can provide advice as to whether an Administration is the best option for your company in the circumstances. We aim to cut through all the jargon and give proactive advice whilst lending a sympathetic ear.
Neville & Co help the Directors lodge a notice of intention to appoint Administrators with the Court and send notices to any bank or third party with a debenture. Once the notice period has passed Neville & Co are appointed Administrators.
Once the company enters Administration in Plymouth the Administrators are afforded time to work out whether there is a viable solution or whether the business or its assets can be sold.
We hold the Directors’ hands during the whole Administration process. We liaise with any creditors and take as much stress off you that we can.
The sooner we are consulted by a business facing financial difficulties, the more options we are able to offer.