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Any company can enter into administration and it means that the business is taken under control by a well qualified Insolvency practitioner. The practitioner can be either appointed by the directors of the company, by the court or at times by the creditors of the company. One of the main roles of company administration is to function as a rescue procedure which is the best known alternative to liquidation and this process of administration helps the business to continue its trading and also helps in relieving the pressure from the creditors as well as from the other sources thatImage are close to the business. The administration which is appointed for a business which is insolvent has several roles to play as their main aim is to enable the company's survival. They also need to look for better alternatives than winding up the business and plan a strategy and implement the same to enable the sales of the assets which are used for various benefits. Some of these assets can be used for the benefit and interest of the creditors and at times it can be used for the interest of creditors as well as the business. Hence, with the help of administration, the company can continue the business while settling the financial crisis situations by making proposals with the creditors. This benefits the business as well as the creditors and helps to manage the finances in an appropriate way. By opting for administration, the business can also stay away from situations like bankruptcy.