go into administration
to be bankrupt
TRANSLATION
go into administration = Insolvenz beantragen --- GOOGLE INDEX go into administration: approximately 950,000 Google hits
STATISTICS
IN THE PRESS
The Officers Club clothing outlet has become the latest victim of the troubled retail sector, GOING INTO ADMINISTRATION with the loss of 500 jobs.
(The Guardian)
---
Wine retailer Oddbins GOES INTO ADMINISTRATION
(Fin24.com - news headline)
(The Guardian)
---
Wine retailer Oddbins GOES INTO ADMINISTRATION
(Fin24.com - news headline)
Did you
know?
go into administration
noun phrase
- a situation in which the financial affairs of a business that cannot pay its debts are managed by an independent administrator
(Oxford Advanced Learner's Dictionary)
---
To "go into administration" is another way of saying that a business (or an individual) is bankrupt, so that the finances must be managed - or administered - by an independent party. The precise legal implications and the associated procedures differ by country.
In the UK, financially-troubled firms either enter into a company voluntary arrangement, which involves negotiating the repayment of debts with creditors over a long period of time, or they go into administration, or are closed down.
Going into administration can happen even to the rich and famous. In March 2004, millionaire building tycoon Donald Trump published a book entitled How to Get Rich. A mere five months later, his publicly-traded company Trump Hotels & Casino Resorts, announced that it would file for bankruptcy - for the second time in a dozen years.
Etymology: from the Latin administrationem (nominative - administratio), meaning "direction, management."
---
SYNONYMS
file for bankruptcy, go into receivership, go into liquidation
---
SMUGGLE OWAD into today's conversation
"Going into administration is sometimes the only option for a failing company."
noun phrase
- a situation in which the financial affairs of a business that cannot pay its debts are managed by an independent administrator
(Oxford Advanced Learner's Dictionary)
---
To "go into administration" is another way of saying that a business (or an individual) is bankrupt, so that the finances must be managed - or administered - by an independent party. The precise legal implications and the associated procedures differ by country.
In the UK, financially-troubled firms either enter into a company voluntary arrangement, which involves negotiating the repayment of debts with creditors over a long period of time, or they go into administration, or are closed down.
Going into administration can happen even to the rich and famous. In March 2004, millionaire building tycoon Donald Trump published a book entitled How to Get Rich. A mere five months later, his publicly-traded company Trump Hotels & Casino Resorts, announced that it would file for bankruptcy - for the second time in a dozen years.
Etymology: from the Latin administrationem (nominative - administratio), meaning "direction, management."
---
SYNONYMS
file for bankruptcy, go into receivership, go into liquidation
---
SMUGGLE OWAD into today's conversation
"Going into administration is sometimes the only option for a failing company."
