Children’s charity 4Children entered administration yesterday and has appointed financial services firm Smith and Williamson to oversee the process.

Earlier this week 4Children announced that most of its services had been transferred to either Action for Children, local authorities or another local provider, and that the charity would close with the loss of the remaining four locations and 85 jobs.

Smith & Williamson said that the expected job losses are now 65 and a spokesman said that it was continuing to "try and secure funding from other places". 
The charity formally entered administration yesterday with Adam Stephens, Finbarr O’Connell and Andy McGill of Smith & Williamson have been appointed joint administrators. 

4Children said its closure was down to the loss of contracts and fundraising pressures. 4Children's latest accounts for the year ending 31 March 2015 show it had an income of nearly £30m. The charity's income has increased every year since 2011 when it was just under £13m. 

Stephens said: “Smith & Williamson has been assisting 4Children for the last few months in identifying the various financial options available to it. It was apparent that the best option was to negotiate a transfer of the services to another not for profit organisation.  In the end, this has involved far more than just a transfer to Action for Children.” 

 He added that: “The appointment as joint administrators has enabled us to give the small number of former employees, who have regrettably been made redundant, support in making claims to the National Insurance Fund.”

“We are anticipating that thousands of children will be able to continue to access the same services and, as such, the team is working very closely with Action for Children and all local providers to ensure as smooth a transfer of services as possible.”