The BHS administrators must now aim to achieve as a primary objective the rescue of the company (as distinct from the business carried on by the company) as a going concern or, as second objective, a better result for the company's creditors as a whole than would be likely if the company was wound up (without first being in administration) in accordance with the Insolvency Act 1986.

Once the administrators have collected the relevant statements of company's affairs from directors and key employees, they normally have (within eight weeks from the date of their appointment) to prepare a statement of how they propose to conduct the administration outlining mainly (a) which of the statutory purposes of administration the administrators intend to achieve and how the administration will end after the achievement of that purpose and (b) any asset sales or disposals made since the company entered administration and the reasons for doing so. The proposal will also contain details of the basis of the administrators’ remuneration.