Jessops goes into administration

Started Jan 9, 2013 | Discussions thread
DutchMM
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Re: Jessops goes into administration
In reply to Stflbn, Jan 9, 2013

Equivalent to Chapter 11 in the US system.  The administrators are allowed to continue to run the business while they attempt either to restructure it for sale, or to arrive at some arrangement with the creditors that allows a (generally reduced) part of the business to continue.

On the basis of what I read in the paper (I am not an insolvency practitioner), it is more unusual for a business to come out of administration in the UK system than out of Chapter II in the US.

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