How to find out if a company is in administration

The recent months have seen the UK’s economy face rather turbulent times. New figures from the UK government’s Insolvency Service revealed that the toll of surging interest rates and energy bills has led to a sharp increase in corporate failures in England and Wales. In March, the total number of firms going bust surged to 2,457, a 16% increase compared to the previous year. This has marked the highest number of corporate failures since January 2019. 

This has made business more challenging, with higher borrowing costs impacting finances and potentially affecting employment. Experts have warned against further insolvencies ahead. Sectors such as manufacturing and hospitality have been particularly hard hit, as measures to protect companies from insolvency during the pandemic were largely removed in 2021. Insolvency can have significant implications for the future of a company, including potential administration or liquidation.

As an investor, finance expert, or business leader with vast industry experience, it’s crucial to stay informed about the status of companies you are interested in. If you’re wondering what the best course of action to take while seeking companies in administration, here are some key things to keep in mind:

Details about the Company’s Credit History and Licensing

One of the first steps in finding out if a company is in administration is to research its credit history and licensing. There are several online resources available that provide information on the credit rating and financial health of companies. These resources can help you assess the company’s creditworthiness and financial stability, which can be an indicator of potential insolvency or administration.

Check the London Gazette Insolvency Notices

The London Gazette is the official public record where insolvency notices are published in the UK. Insolvency notices provide information about companies that have entered administration or other forms of insolvency proceedings. Checking the London Gazette regularly can help you stay updated on companies that have recently gone into administration and can be a valuable source of information for investors, finance experts, and business leaders.

Check if the Company is in Provisional Liquidation

Provisional Liquidation is a legal process that can be initiated by a company or its creditors to protect the assets of a company pending further insolvency proceedings. Checking if a company is in provisional liquidation can provide insights into its financial health and potential administration status. This information can be obtained from the Companies House website or through legal databases that provide up-to-date information on insolvency proceedings.

Use Our Platform to Get in Touch with Administrators 

To obtain accurate and timely information about companies in administration, you can use our platform to get in touch with administrators who are handling the insolvency process. It provides comprehensive data on companies in administration, including contact information for administrators, updates on the progress of the insolvency, and other relevant details. By subscribing to our platform, you can stay informed and make informed decisions about companies in distress. Stay proactive in monitoring the status of companies you are interested in and take informed actions to expand your portfolio and generate real value!