I would imagine any private equity investor will want to drag this out as long as possible to achieve the lowest sale price. This will factor heavily with the administrators who have a limited time frame in view of the cash remaining. At some stage, the decision will have to be made to appoint receivers if an agreed sale price can not be realised within the target time frame, otherwise, secured creditors will suffer.
To even think there won't be significant redundancies is wishful thinking.