There's a huge difference between the 'defrauding !!!!!s' whose intention from the outset is to take a supplier for a ride and a genuinely distressed situation that couldn't be avoided
I don't imagine for a second that the directors behind Blades magazine wanted to go into admin. Indeed, it's quite likely that they've had very many sleepless nights and I wouldn't be at all surprised if they've have lost their own money in this case.
TTB