maybe they can merge with bramley buffaloes

Another day another deadline! Just 10 days to save them from liquidation!
[urlhttp://www.bbc.co.uk/sport/0/rugby-league/18554519[/url

As a numbnuts,can someone explain the difference between Liquidation and administration?

My understanding is liquidation is selling off all assets in order to pay debts. Administration in simple terms is taking over the running of the club in the hope that it can be made viable again, which might be via agreeing a reduced payment with creditors, finding an investor or restructuring etc.

Administration is a process where an "administrator" is brought in and tries to effectively save the business while keeping it running. They go for the best deal for all rather than just the business owners. So that means creditors are protected and the business is protected, under a limited time, after which the best deal will be made to get creditors their money, i.e selling assets.

The idea being that creditors are more likely to get their money if the business is still running, rather than just shutting them down and no one getting anything.

Liquidation is the end if either admin isn't chosen or it ultimately fails.

Re structuring the wage bill to make it a viable profit making business until someone else comes in and takes financial control is high on the list of priorities, and unsurprisingly the thing that's been killing the Bulls for the last five years or so.
Could be a lot of staff gone by the end of the week.