Suppliers / Creditors

What does ‘going into administration’ mean?

Going into administration means the Company is being taken under the management of an administrator (a licensed insolvency practitioner). The administrator assumes control of the Company from the current directors Administration is one of a number of insolvency processes.

What is an administrator?
An administrator is an officer of the Court and is qualified to manage the affairs of a business when it is insolvent.  It is their role to take control of a Company’s affairs when it is in financial difficulty and try to find a longer term solution for it.
The administrators act as agents of the Company and without personal liability.

Who are the administrators?

The administrators are Tim Higgins, Edward Williams and Ross Connock of PricewaterhouseCoopers LLP (“the Administrators”).

Future supplies
The Purchaser intends for the business to continue to trade as normal, therefore if you are a supplier who has any questions regarding your ongoing supply, please contact your usual contact at Ruroc Limited with regard to ongoing supplies to the business.

I have a RoT clause in my contract what do I do?

If you think that you have a valid retention of title claim, please contact your usual contact at the Company.

Can I claim as a creditor?

If the Company owes you money prior to the administration appointment date, you will be an unsecured creditor of the administration estate. You can submit an unsecured claim for the amount you are owed in to the administration estate. 

Further information on submitting a claim into the administration and to download a proof of debt for completion, please visit the Administrators website at www.pwc.co.uk/ruroc

Based on what we know currently we expect that there will be a distribution to unsecured creditors of the Company via the prescribed part only (an amount set aside for unsecured creditors from floating charge funds in accordance with section 176A IA86 and the Insolvency Act 1986 (Prescribed Part) Order 2003). It is too early to give an indication as to what the likely level of return for unsecured creditors will be.

If you have any further queries, please email uk_ruroc_enquiries@pwc.com.