Paperchase 'saved' by supermarket - but shops still at risk
When a company enters administration, all control is passed to an appointed administrator - who has to be a licensed insolvency practitioner.Once the administrator has taken over, a moratorium is placed around the company and stops all legal actions.How does administration work?They will try to stop the company being liquidated but if they can't, the administrator will pay as much of a company's debts as possible from the assets.
If the administrators later decide that you can't use your vouchers, you should register a claim with the administrators for the value of the vouchers.However, you may not get this money back if other creditors are owed money too. You may also only get a portion of the money back. If the voucher or amount put on a gift card was for more than £100, then it may be possible to claim the money back if it was purchased with a credit card.
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