No. It's for corporate bodies. When a company goes into administration, the company is dead, and the business is taken over by 'administrators' who run the bus

No. It's for corporate bodies. When a company goes into administration, the company is dead, and the business is taken over by 'administrators' who run the business and sell it on or wind it up in an orderly fashion. The company is then closed down and any creditors of the company paid out of the remaining proceeds - after the administrators have taken their fee. Think of them as corporate undertakers.