There has been so much talk and confusion regarding administration, so we have found a simple way to explain what it means. The infographic above highlights in brief what you need to know about administration and what it really means. A common misconception is that administration means the end of a business, most likely because this has been the situation in some of the recent high profile cases. We can see from the above that administration can actually protect a business currently under the weight of immense legal pressures from creditors. The job of the administrators is to take over the management of the business (usually a large firm) and try to pay off the debts as quickly as possible.
Infographic Source: Business Recovery
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