A Licensed Insolvency Practitioner can act as an Administrator.
An administrator acts as an officer of the Court in dealing with the company’s affairs. The Administrator will usually take steps to sell the business and assets of the company as a going concern.
Whilst Pre-Packs (where a sale of the business and assets negotiated and agreed prior to the making of the administration order) have come under scrutiny, when they are managed properly, they are still considered a legitimate way of improving returns to creditors, preserving employment and preserving business opportunity.