Voluntary Administration
Voluntary administration is a process where a registered insolvency professional temporarily takes control of a business which is insolvent, or in financial difficulty.
Voluntary administration is intended to support businesses that are insolvent to continue operating and, where that is not possible, achieve a greater return for creditors than the immediate winding up of the company through a restructure. In this video, Firm Principal Ben Sewell takes you through a brief explanation of voluntary administration and why it doesn’t work for SMEs.
