Said all along administration could only lead to liquidation, unfortunately.
Why would an "investor" take over the Bulls? No doubt it's been terribly managed and has the possibility of running as a break-even business, but if that, after an initial investment, is the very best result you can hope for, whereas worst-case possibilities would see you burning £1million+ every year then who would take it over? Only a sugar daddy who doesn't care about losses or a deluded ego-fueled megalomaniac.
Oh, wait a minute.