Ann: Trading Update, page-21

There’s a few possible motivations for his calling for the administrators. It could be simple morality: doing the right thing because it’s the right thing. It could also be self interest: the ship is going down, and it’s not taking me down with it (because directors and executives can be held personally responsible if the company is trading while insolvent; going into administration early helps to shield them from liability.)

Either way, as chief financial officer, he did what had to be done, both ethically and legally. If there’s anything to be salvaged, it’s because the administrators came in early, not after the company was run into the ground.