This is where we obtain a freezing order from the Court placing the partnership into Administration. An Administration Moratorium protects the partnership for a period of time so we can work out whether there is a viable solution or whether the business or its assets can be sold.
An Administration procedure tends to be used when it will be more beneficial to trade an insolvent partnership allowing the Administrator time to financially restructure the business or to market and look to sell the business as a going concern rather than it having to cease trading. This can mean that a business can be saved and employees may be able to keep their jobs.
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.
We can help
We have offices in Plymouth and St Austell. Geographically we cover all of Cornwall, Devon and Somerset and the initial free meeting can be held at a local venue to suit you.
I’m based in Plymouth (not a call centre with an anonymous number) and have been in practice here since 2002. I am a licensed insolvency practitioner.