Re: Administrators
The insolvency/admin firms charge incredibly high rates and extract all the remaining money out of the business. Most if it goes to them (£1.1m in this case), and the £600,000 left went (shared out) to anyone who could make a claim - creditors generally get a few pence in the pound (if that).
These firms have "charge out" rates of £80 for something like an administrator/office junior type per hour, and then end up in £400-£800 per hour for the "senior" people. It's a nonsense.
Biting the hand that feeds IT
