Haven’t followed it closely but believe that the admin was a last resort for him

as he had pumped in around 100m in equity and wiped out a lot of debt but couldn’t afford to throw good money after bad.

I think the idea was that by administration rather than sale it would be easier for a corporate raider like Evans or Ashley to come in and strong arm the creditors without having to pay off him as owner.

Posted By: Ruttles, Jan 28, 23:33:09