Skip to content
Insolvency Guardian
Insolvency Services & Bankruptcy Advice
Insolvency GuardianInsolvency Guardian
  • Insolvency
  • Zero Contact Solutions
  • Resources
  • News
  • About Us
  • Contact
1300 60 70 60
  • Insolvency
  • Zero Contact Solutions
  • Resources
  • News
  • About Us
  • Contact

What does going into administration or liquidation mean and which UK companies have gone bust? From Carillion to … – The Sun

MEAT supplier Russell Hume has become the latest large company to make headlines for going into administration.

The company, which supplied chains such as Wetherspoon and Jamie Oliver restaurants, is facing the loss of 270 jobs. Here’s what calling in the administrators means…

PA:Press Association

What does going into administration mean?

When a company enters administration, all control is passed to an appointed administrator.

The administrator must be a licensed insolvency practitioner.

Their goal is to leverage the company’s assets and business to repay creditors.

Once the administrator has taken over, a moratorium is placed around the company and stops all legal actions.

After the administrator takes over, there isn’t much…

Read the full article at: https://www.thesun.co.uk/news/4592022/administration-meaning-uk-companies-bust-carillion-russell-hume/

Category: LiquidationBy Insolvency GuardianFebruary 19, 2018

Post navigation

PreviousPrevious post:Newsmakers Week of Feb. 19, 2018 – Law.comNextNext post:Rosy results picture for HSBC – Hong Kong Standard (press release)

Related Posts

Aberdeen woman 'forced to go on Universal Credit' after £12k course when firm collapsed – Aberdeen Live
May 9, 2025
Luxury Australian bridal gown company worn by former Bachelor star enters voluntary administration
May 9, 2025
Vinyl Me, Please confirms liquidation
May 9, 2025
NCLAT rejects insolvency plea against PepsiCo over disputed interest
May 9, 2025
REACON BUSINESSES TO BE LIQUIDATED
May 9, 2025
TBB Bank initiates voluntary liquidation process | News
May 9, 2025

What does going into administration or liquidation mean and which UK companies have gone bust? From Carillion to … – The Sun

CONSTRUCTION giant Carillion has become the latest company to go into liquidation leaving employees out of a job.

The company, which is involved in major projects like the HS2 rail line as well schools and prisons, has been crippled by debts and 20,000 jobs are now at risk.

PA:Press Association

What does going into administration mean?

When a company enters administration, all control is passed to an appointed administrator.

The administrator must be a licensed insolvency practitioner.

Their goal is to leverage the company’s assets and business to repay creditors.

Once the administrator has taken over, a moratorium is placed around the company and stops all legal actions.

After the administrator takes over, there isn’t much that …

Read the full article at: https://www.thesun.co.uk/news/4592022/administration-meaning-uk-companies-bust-carillion/

Category: LiquidationBy Insolvency GuardianJanuary 15, 2018

Post navigation

PreviousPrevious post:Insolvency ordinance: A boon or a bane? – Vantage AsiaNextNext post:Canadians increasingly pessimistic about their ability to absorb higher interest rates and cover their monthly bills – Markets Insider

Related Posts

Aberdeen woman 'forced to go on Universal Credit' after £12k course when firm collapsed – Aberdeen Live
May 9, 2025
Luxury Australian bridal gown company worn by former Bachelor star enters voluntary administration
May 9, 2025
Vinyl Me, Please confirms liquidation
May 9, 2025
NCLAT rejects insolvency plea against PepsiCo over disputed interest
May 9, 2025
REACON BUSINESSES TO BE LIQUIDATED
May 9, 2025
TBB Bank initiates voluntary liquidation process | News
May 9, 2025
Insolvency Guardian
© Insolvency Advisory Accountants Pty Ltd trading as Insolvency Guardian Australia.

Disclaimer

Go to Top
Call Now Button