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Usenet Posted 23 years ago
Usage

Pot s.th. on the line; pot into; receivership

Hello folks,
what does that mean
(from BBC homepage):
"Powerhouse, the UK's third biggest electrical retailer, has been put into administrative receivership, putting 3,000 jobs on the line. "

put something on line - ?
put into - ?
receivership - if a company isn't liquid anymore and has depts so the state will take care of it?
Many thanks!
Michael
  

Top answer

[nq:1]Hello folks, what does that mean (from BBC homepage): "Powerhouse, the UK's third biggest electrical retailer, has been put into administrative receivership, putting 3,000 jobs on the line. [/nq] In this case, it means that the 3,000 jobs are in danger (the people are in danger of being fired). [nq:1]put into - ?

— Usenet

  • [nq:1]Hello folks, what does that mean (from BBC homepage): "Powerhouse, the UK's third biggest electrical retailer, has been put into administrative receivership, putting 3,000 jobs on the line.
  • [/nq] In this case, it means that the 3,000 jobs are in danger (the people are in danger of being fired).
  • [nq:1]put into - ?
  • [/nq] Even as a native speaker of English I don't know what "administrative receivership" means.
  • -Chris
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3 Answers
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[nq:1]Hello folks, what does that mean (from BBC homepage): "Powerhouse, the UK's third biggest electrical retailer, has been put into administrative receivership, putting 3,000 jobs on the line. " put something on line - ?[/nq]
In this case, it means that the 3,000 jobs are in danger (the people are in danger of being fired).
[nq:1]put into - ? receivership - if a company isn't liquid any
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In case where a firm has declared bankruptcy or has declared that they might be declaring bankruptcy, they do so in a bankruptcy court. The bankruptcy court appoints a receiver. The receiver reports to the court and not to the officers of the firm. All disbursements must be approved by the receiver. The idea is to protect the shareholders by not allowing the officials of the company to strip it of
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[nq:1]"Powerhouse, the UK's third biggest electrical retailer, has been put into administrative receivership, putting 3,000 jobs on the line. " put something on line - ?[/nq]
This is a metaphor from betting or wagering.
Assets at risk are "on the line." Here bankruptcy risks the abolition of 3,000 jobs.
[nq:1]put into - ?[/nq]
Common English for an action by a judge that
alters
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