A licensed insolvency practitioner appointed by the Court under an administration order to achieve the proposal set out in the order.
The administrator will need to produce a plan, known as his proposals, for approval by the creditors to achieve this. As a business owner the administrators only usually get called in when there is trouble and the bank or lender is concerned about their investment. Or it may be in their best interest and often more profitable to strike hard against the directors of businesses. Some operators are completely cornered with no where to go. But there are others that are capable of steering a business through difficult terrain.
Often Business owners lives are torn apart when the administrators arrive because its no longer about making future profits. Its about preserving what you have got because you are suffering losses because of the business interruption that the presence of the administrators often has.