Well I am not an expert on this (as may become quickly apparent) but in NZ once a company is in receivership, it can continue to trade but the new debts become the receiver's debts (who just skims if off the value of the assets anyway). That's how large retail chains clear stock or continue to be a desirable business to own. In this country, the minute you stop trading the business falls dramatically in value, and having no staff would intensify that. But perhaps administration is another thing, although Chapter 11 in the US allows you to continue trading.
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