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When a company gets into financial trouble an administrator may be appointed to help the company through the difficult times and start trading again if possible.
Administrators can be appointed to a company that is unable, or is likely to become unable, to pay its debts. They can be appointed by the court (on application from a creditor a director), the holder of a qualifying floating charge over the assets of the business, or, the company and its directors.
An administrator’s primary role is to rescue the company as a going concern. If this is not possible, the administrator will try to get a better result for the creditors than would be possible if the company was wound up.
If neither of these solutions are possible, the administrator will sell the company’s property and assets to make at least a part-payment (dividend) to one or more secured or preferential creditors employees or the bank).
Administration
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CVA
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Liquidation
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Receivership
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BusinessDebtAdvice.co.uk is part of McCambridge Duffy Insolvency Practitioners established 1932.
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Information on formal and informal debt solutions is available on our website. We do not offer informal solutions, but provide this information so you have a clear and objective overview of the options available. If an Insolvency solution is not suitable or you would prefer to take an informal route, we will recommend an appropriate provider, with your permission.
All of our advice is free and confidential. A fee is only payable where further services are requested. All fees will be explained in detail and discussed prior to commencement of any solution. Repaying debt over a longer period may increase the total amount to be repaid. In the UK, consumer credit activities are covered by the Institute of Chartered Accountants in Scotland, Group Licence number G/900011
When a company gets into financial trouble an administrator may be appointed to help the company through the difficult times and start trading again if possible. 
A Company Voluntary Arrangement (CVA) is an insolvency procedure which allows a financially troubled company to reach a legally binding agreement with its creditors.
Liquidation usually means, the company’s trading stop and its assets are turned into cash or “liquidated”. All other possible liabilities, like employment or renting are stopped.
When a company borrows money from a bank on an overdraft or loan, it will be common for the bank to ask for a security (debenture) against such a loan. 