For those fearing the worst and wondering how the legal process works when a company voluntarily appoints an Administrator to run its business, here is a good overview.
I still think the company can be saved and the A40 board will choose to restructure (once the administrator's restructuring proposals are presented), as per the VA announcement:
'Accordingly, the directors of the Group Companies resolved that the Administrators should be appointed to theGroup Companies, with a view to effecting a restructure and recapitalisation through the administration process.The Company expects the Administrators will progress various restructure proposals with various parties, includingthe Consortium and the secured lender'
A40 Price at posting:
8.2¢ Sentiment: Buy Disclosure: Held