When a company is insolvent, it might be placed into administration in an attempt to save and sell the company on rather than liquidate it. This isn't appropriate in all circumstances, but for companies which have a strong business beneath their financial difficulties, administration is often preferable to liquidation.

During administration, control of the indebted company is handed over to Licensed Insolvency Practioners, who, as company administrators will assess the business in its entirety and make a judgement on what will be the best process to follow. Rescuing the company is often the best solution if possible, but if not then achieving the best outcome for the creditors of the company


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