Company administration
If your business is failing, but can be sold as a going concern at a premium or can benefit from continuing to trade to complete existing contracts and work, an administration order may be appropriate. Get in contact with our team.
Last Updated: 17/03/2025
Protect your struggling business
Company administration is a legal process designed to help struggling but potentially viable companies by protecting a business from its creditors whilst restructuring takes place. If your company is in debt and under pressure from creditors or perhaps is being threatened with legal action such as a winding up petition, seeking the protection of administration will prevent any further legal action.
Ideally, companies in administration can continue to trade through its difficulties and come out the other side as a going concern but if that is not possible it can be used to achieve ‘a better realisation of assets’ or to facilitate a payment to preferential and secured creditors.
How can McTear Williams & Wood help?
Administrators’ primary purpose is to get an ailing company back on its feet. Our team has experience of administrations in many different industries and business sectors and where possible will work with you and your existing management team to achieve the best possible outcome.
When might company administration be appropriate?
- When it just isn’t possible to persuade creditors to support the company any longer.
- When cash-flow pressures are building but there is still a potentially viable business to save.
- When there is a need to move quickly and sell the business and assets.
- Ultimately if the company is insolvent and by keeping it intact and acting quickly creditors can benefit.
- These days directors can choose their own administrator to work with rather than waiting for the bank or another creditor to impose one.
Director
- 01603 877861
- jowatts@mw-w.com
- Prospect House, Rouen Road, Norwich NR1 1RE
Understand your financial options
Check the health of your business with our free business health check tool.
Get an indication as to whether your company has what it needs to survive.
Includes:
-Company health assessment
-Types of liquidation available
-Options & next steps
*All information provided is completely confidential and will not be shared with a third party
Free advice line for distressed company directors > 08003317417
The Benefits of Administration
- Get immediate relief from your creditors – giving you time to help your business return to profitability.
- Your company can still go through other procedures – including a debt restructuring CVA or a voluntary liquidation.
- Continue trading with your clients and market – whilst your options are fully assessed for the future.
- Restructure – by concentrating on the business activities and functions that are still profitable.
- Can protect the continuity of your business – by selling your business as a going concern in a process where you can bid and buy the business back free of debt.
Contact us now, in confidence, to speak with us about voluntary administration or to get help and advice on voluntary administration. Feel free to give us a call on 0800 331 7417 or email us info@mw-w.com.
Businesses for sale
Sometimes there is a need to sell the business and/or assets arising out of an administration and you can find out more about businesses for sale both from McTear Williams & Wood and other insolvency practitioners at the UK’s leading insolvent business and asset website www.ip-bid.com – this is the UK’s online marketplace for buyers and sellers of businesses in distress.
BUSINESS RESCUE & INSOLVENCY SPECIALISTS
Download your free Directors' guide
This free, easy-to-read guide is designed to help directors whose company is in financial distress. It will assist directors to navigate around insolvency issues and avoid potential pitfalls, split over ten sections this guide walks you through the matters in a logical order you are
likely to need to consider.
How can we help - Book a free 1-2-1
If your company is struggling with unmanageable debts, decreased cashflow or concerns about about your company’s future, we can assess your situation and provide you with tailored solutions and options.
During your free initial advice meeting, we will discover a true picture of your company’s financial situation
and offer practical and expert guidance on your next steps.
Initial meetings can be held at our office or your premises and are completely confidential.
There is no charge for this meeting – charges only apply if and when terms of engagement have been agreed.
If you are struggling to repay this loan we can help you understand what options might be available to ease the financial strain. Either call us to speak to one of our experts or arrange a free initial consultation meeting.
