WWW if your read the companies press release it states in its letter...
"The administrators of the Company expect to effect a sale of the Insurance
division of the Group, Erinaceous Insurance Services Limited, to a company owned by the Company's lenders.
i.e ... they let them go bust so they could pick up the holding
The Residential Management division (Residential Management Group Limited and its subsidiaries) and Property Maintenance division (Erinaceous Property
Maintenance Limited) also remain outside of any insolvency process and continue to trade as normal"
i.e. ... trade as normal, implying no job losses
Maybe you should check the facts on this particular Company if using it to make a point, before shouting "JOB LOSSES" on here.