The Big Four firm, which is currently receiver to Rage Software, put up a sign on the website while it was operational saying it was going through the process. E&Y administrator Alan Bloom did the same to Railtrack’s site when it was in administration.
A spokeswoman for E&Y explained that as Rage shareholders can access the site and it is used as a marketing tool, the administrators thought it was best practice to show the position of the company.
She added: ‘It is something we are doing more and more.’
However, this is not standard practice among insolvency practitioners.
None of the websites of recent high-profile insolvencies, including the Marquee, York City or Port Vale, say the companies are in administration.
Carl Faulds, council member of the Insolvency Practitioners Association said that due to developments, the regulator would be bringing the topic up in its future discussions. ‘In principle this practice should be considered,’ he said.
David Buchler, president of R3, said: ‘It is good business practice.
‘We would like to see it done more. If other people are not following it, they should. The whole purpose is that people are aware of the position the company is in.’
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