The process of administrative receivership
is when an insolvency firm is appointed to control the whole or major part of a company's assets or property for the benefit of a creditor.
HIGH PERFORMANCE Vertu chief Robert Forrester snapped up a Midlands chain yesterday, the day it went into administrative receivership
A statement from administrators Kroll said: "The company entered into administrative receivership
following a sustained period of weak trading conditions which has resulted in cash-flow difficulties.
The firm, which as well as Cardiff had offices in London, Bristol, Birming- ham and China, was put into administrative receivership
after cash-flow problems.
However, the firm went into administrative receivership
in October after financial support was withdrawn by its banks.
Around 30 people who work at the Hibernia head office in York are also expected to lose their jobs, following the company's fall into administrative receivership
in October 2003.
Community centre: residents are aware that Ballast went into administrative receivership
with only five weeks of work left for completion of the centre.
ASW, which employs more than 1,000 people in Cardiff and 300 in Kent, announced on Wednesday it was to go into administrative receivership
as it could not rely on continued support from banks.
Colour Film Limited carried on business as a manufacturer of decorative film for window panes from Flaval House, in Caldwell Road, Nuneaton, and went into administrative receivership
on December 10, 1999.
Their fears were realised when Jazz Enterprises went into administrative receivership
three months ago with debts of pounds 1.
The management of the 22 companies under Koza ypek Holding has been under administrative receivership
It was also home to the pounds 5m Gaia Energy visitor centre, which went into administrative receivership
in 2003, within three years of opening.