atw: CV help: In administration?

Hello everyone, 
I need some help with some wording for my CV, I worked for a small business and 
unfortunately they could not continue employing me because they have huge 
financial problems and may lose the business. A friend mentioned that she 
thought there is a term that explains this for a résumé, she thought it was, 
'in administration'. Can anyone verify this is the correct phrase for me to use?

Many thanks,

Tracy
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