Financial guarantees of up to £410m have been offered while talks on longer-term restructuring get underway.
But British Energy warned: ‘There can be no certainty that this will preserve value for investors.’
The company told ministers last week it needed a cash injection of at least £280m to enable it to refinance borrowings, £100m more than the company had previously said it needed.
Reports suggest chief executive Robin Jeffrey was not fully informed about the generator’s financial position last month when he told analysts the company was not facing a crisis.
The Financial Services Authority is investigating whether the company has been sufficiently open about its problems, focusing on reassurances given by Jeffrey and Keith Lough, finance director, during an 14 August telephone conference.
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies
Smith & Williamson has been appointed administrators of charity 4Children