If it does go into administration, I think share holders are...

If it does go into administration, I think share holders are unlikely to recover any proceeds from there investment.

The secured creditors (banks) have first rights to recover there debts.

The realisation of asset is unlikey to reocver book value or even enough ot pay the banks back.

I think the best case sinario is for ABC learning remain afloat and in my opinion, there might be a chance that the government may come to up with a rescue package.

ABC learning provide a very important service.

Just my opiinion do your own research.