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"This is the beginning of a process not the end of a process," Scardino told the Nottingham Evening Post.
"This is the start of our recovery not the beginning of our end."
The club decided to put themselves in the hands of the administrators after taking advice from specialist lawyers.
"Hopefully this will be a short-term arrangement," said Scardino, "But it is certainly not the end of the world.
"There are a lot of people in the city who are only too willing to help out the club, people who want to invest money in Notts County.
"We just have to get our immediate problems sorted out."