More detail, from the KMPG press release page:
"Monarch Aircraft Engineering Limited and Monarch Aircraft Engineering LLC (Monarch Ukraine) are not in administration and continue to trade as normal."
Link:
https://home.kpmg.com/uk/en/home/med...vel-group.html
I'd guess the engineering business is the most (only?) valuable part of the Monarch group, so the administrators would look to protect that value pending a sale.