A common misconception in business recoveries is that an administrator must always sell to the highest bidder. In reality, UK insolvency law requires something broader: to achieve the best overall result for creditors.
That can mean choosing a buyer who can complete quickly, preserve jobs, or protect asset value, rather than one offering a higher but uncertain price.
Administrators must act transparently, obtain independent valuations, and keep a clear record of their reasoning. They are not auctioneers chasing the biggest number; they are fiduciaries balancing value, certainty and fairness.
In short, it is about the best outcome, not just the biggest offer.