Company going into administration
Discussion
Hey all,
There is a company which has supposedly entered administration over the past 24hours in the UK which is public knowledge.
However, how do I identify who the administrator is so can kick off discussions with them whether there might be assets we want to buy?
Is it a case of using ones network to find this out or is there an easy way?
Thanks
There is a company which has supposedly entered administration over the past 24hours in the UK which is public knowledge.
However, how do I identify who the administrator is so can kick off discussions with them whether there might be assets we want to buy?
Is it a case of using ones network to find this out or is there an easy way?
Thanks
Sm1987 said:
Hey all,
There is a company which has supposedly entered administration over the past 24hours in the UK which is public knowledge.
However, how do I identify who the administrator is so can kick off discussions with them whether there might be assets we want to buy?
Is it a case of using ones network to find this out or is there an easy way?
Thanks
If it's public knowledge, then Google it. Otherwise, Companies House https://find-and-update.company-information.servic...There is a company which has supposedly entered administration over the past 24hours in the UK which is public knowledge.
However, how do I identify who the administrator is so can kick off discussions with them whether there might be assets we want to buy?
Is it a case of using ones network to find this out or is there an easy way?
Thanks
I say this from bitter experience, if they're not calling you looking to sell, it's unlikely that you'll get a shot at it.
My own impression is they typically go for the safe bet of a known quantity even if recovery is perhaps less, but if you get in quick and can convince the relevant person that you have the funds and everything else it is worth a shot.
If you're serious but an unknown quantity, ask your accountants assuming they're credible, many years ago I did this and the response was like chalk and cheese, in essence the Administrator took at face value that the accountant was happy we could finance things, after all his cred was on the line if we were timewasters.
My own impression is they typically go for the safe bet of a known quantity even if recovery is perhaps less, but if you get in quick and can convince the relevant person that you have the funds and everything else it is worth a shot.
If you're serious but an unknown quantity, ask your accountants assuming they're credible, many years ago I did this and the response was like chalk and cheese, in essence the Administrator took at face value that the accountant was happy we could finance things, after all his cred was on the line if we were timewasters.
If it's a retailer then he may have wasted a critical 48 hours seeking the information and missed the boat, unless he's looking to pick up the runt of any stock en masse cheaply.
Companies House won't help unfortunately - the documents are simply lodged too late - normally takes at least a week for the AM01 to be online - I always find it odd that the press are cagey about who the administrator is.
The quickest way can sometimes be to look at the website, particularly if they trade through it - the administrator will have to put a notice on there declaring the change of circumstance pretty much immediately - in the larger cases this is all preprepared and goes live within minutes, even if the appointment is overnight.
Companies House won't help unfortunately - the documents are simply lodged too late - normally takes at least a week for the AM01 to be online - I always find it odd that the press are cagey about who the administrator is.
The quickest way can sometimes be to look at the website, particularly if they trade through it - the administrator will have to put a notice on there declaring the change of circumstance pretty much immediately - in the larger cases this is all preprepared and goes live within minutes, even if the appointment is overnight.
Doofus said:
The company may have newly appointed directors. That appears on CoHouse very quickly.
If it's going into admin why? That wouldn't trigger new directors, it may trigger a change of name (to XYZ Realisations Ltd for example) and change of registered office to the administrators address (unlikely straight away) but they wouldn't normally be appointing new Directors - and if anyone bought the trade and assets out of an admin already they'd not be using that company any longer, they'd have a newco (or purchased by an existing company of theirs).sleepezy said:
Doofus said:
The company may have newly appointed directors. That appears on CoHouse very quickly.
If it's going into admin why? That wouldn't trigger new directors, it may trigger a change of name (to XYZ Realisations Ltd for example) and change of registered office to the administrators address (unlikely straight away) but they wouldn't normally be appointing new Directors - and if anyone bought the trade and assets out of an admin already they'd not be using that company any longer, they'd have a newco (or purchased by an existing company of theirs).Gassing Station | Business | Top of Page | What's New | My Stuff