If a company goes intoreceivership, it faces financial failure and the administration of its business is handled by the receiver.
[business]
The company has now gone into receivership with debts of several million.
The accountants say that there were 45 receiverships among hotels and caterers.
receivership in British English
(rɪˈsiːvəʃɪp)
noun law
1.
the office or function of a receiver
2.
the condition of being administered by a receiver
receivership in American English
(rɪˈsivərˌʃɪp)
noun
1. Law
the duties or office of a receiver
2.
the state of being administered or held by a receiver
Examples of 'receivership' in a sentence
receivership
More than 180 companies entered liquidation or receivership in the same period.
The Sun (2013)
The number of companies placed in administration or receivership has increased by 64% year on year.
Times, Sunday Times (2008)
Transport after it emerged that the Government would have no claim on the assets of the rail infrastructure company if it went into administration or receivership.
Times, Sunday Times (2006)
In other languages
receivership
British English: receivership NOUN
If a company goes into receivership, it faces financial failure and the administration of its business is handled by the receiver.
The company has now gone into receivership with debts of several million.