# MZ Realisations 1 Limited (00333459)

> Why UK company 00333459 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/00333459

- **Status:** Administration ended
- **Administration began:** 2013-06-26
- **Administrators' firm:** Deloitte
- **Formerly:** Modelzone Limited; Model Aerodrome Limited; Model Aircraft (Bournemouth) Limited
- **Incorporated:** 1937-11-08
- **Location:** Bristol
- **Industry:** 47650 Retail sale of games and toys in specialised stores

## Why it went into administration

- Sustained trading losses
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- Parent or group failure
- Competition / price pressure

## From the administrators' statement

The Group embarked on an expansion of the portfolio between 2007 and 2010, to the current 47 stores A number of the stores subsequently proved to be loss making This underperforming ‘tail’ of legacy stores, combined with the backdrop of challenging trading conditions on the high-street and specific competition from major on-line retailers, resulted tn the Group generating EBITDA losses

LDC supported a management buy-out of the group in 2009

In the year ending 30 June 2012, the Group returned a PBT loss of c £1 7m and for the year to 30 June 2013 a forecast PBT toss of c £1 Om (excluding a one-off gain from the surrender of the lease for the Holborn store)

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/00333459/filing-history/MzA4Mjk1NTkzMmFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/00333459

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.