IBM UK Ltd’s biggest AS/400 agent, which is also an RS/6000 reseller, Rickmansworth, Hertfordshire-based Bluebird Software Plc yesterday decided it had no alternative but to call in an administrative receiver after efforts to refinance the company, which involved 3i Plc and IBM itself, failed. The function of an administrative receiver is to take over the running of the company and to attempt to salvage as much of it as possible as a going concern, finding a buyer for the whole or for separate parts of the business.
