In an editorial, it accused the Phoenix partners of "capitalism at its ugliest," saying that acting like "any ruthless entrepreneur" they had stripped Rover's assets and taken its cash early.
Phoenix announced Friday it was "taking the necessary steps to appoint administrators" for Rover.
Administration is designed to protect companies from their creditors while a restructuring plan is completed to decide whether a company can be saved.
It is different from receivership, a process initiated by banks or other creditors who have lost faith in a company's ability to repay its debts.
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