Quickly stop pressure from creditors; rescue, restart and save jobs
For the past 17 years, Bridgestones has helped companies with financial problems using Administration Orders as a solution of choice. We have saved hundreds of jobs, enabled contracts to be completed and protected the valuable parts of lots of businesses.
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What is a Company Administration Order?
An Administration Order is a court order that stops anyone taking legal or enforcement action against your company, whilst a way forward is agreed.
An Administration Order can be obtained very quickly, so protection from aggressive creditors helps the business and not shuts it down.
The Order has to be made by a court but even the application for the Administration Order is enough to get the legal protection to stop creditor’s actions.
How Does an Administration Work?
The key to a successful Administration is a better return to creditors and lenders. At the start, you will need to go through your company’s affairs with an insolvency specialist – such as Bridgestones – to look at all the issues you have and discuss the alternative methods of solving them.
Assuming Administration is the best route, then a court application and immediate protection is granted. This stops any legal action against your company and lets you work with the proposed Administrator to find the best route forward.
"We are specialists in giving Company Administration Order advice. Call us on 0800 014 9836 for free to discuss your company’s financial position in complete confidence."
A Company Administration must achieve one of the following:
- Rescue the company as a going concern.
- Achieve a better result than the company being wound-up.
- To realise the value of the property to make a distribution to one or more secured, or preferential creditors.
We go through the alternatives and work together to get the right one.
Call us now on 0800 014 9836 to discuss your company’s situation.
Protecting assets that the company has on the way through, usually gets a better return and helps keep parts of the business and usually jobs as well. This in turn gets a better realisation for your creditors.
Once the Administration Order has been made, we draw up the Administrator’s proposals that go to all the company’s creditors. When the proposals have been approved, the Administration will run its course.
This could include:
- Sale of some or all of the assets.
- Disposal or surrender of onerous liabilities and leases.
- Transfer of ongoing contracts.
- Business and operational transfers to a new company.
How Does a Company Administration Help You?
- If you have pressing creditors and are unable to pay them?
- If you have been issued with a Winding-Up Petition?
- If your landlord is threatening to distrain and this would kill your business?
The above are some instances where the speed of obtaining an Administration Order could be vital to your business.
An Administration is very bespoke to your company’s needs and doesn’t have to mean the end of the company.
"We can help you with your decision by looking in detail as to the best way to get the company’s problems resolved. We’ve been doing this work for years."
We understand company problems and will want to help work with you to make sure the same issues do not arise again.
If funding is the issue, we have excellent relationships with lenders who help refinance or offer alternatives to the mainstream bankers.
Asking for some advice is the first step to finding a solution, so call us now on 0800 014 9836 for a confidential conversation.
So What Should You Do Next?
If you think that Administration could be the answer to your company’s problems, then contact Bridgestones today to discuss the company options you have. We will want to meet with you, discuss all options and look at the structure of the current business. There may be alternatives to Administration and with our experience over the past 17 years, we may be able to offer alternative solutions.
We will want to be involved in what the next steps are. We know it is your company and any major change is a big step. All our staff understand these difficult situations and are accessible and helpful to everyone.
"It only costs your time to call us and discuss your situation. It could be the most stress relieving call you make. Call 0800 014 9836 for free & confidential advice."