# Conexion Music Limited (01356293)

> Why UK company 01356293 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/01356293

- **Status:** Administration ended
- **Administration began:** 2016-02-01
- **Formerly:** MCS Music Limited; Leosong Copyright Service Limited; Leosong Holdings Limited
- **Incorporated:** 1978-03-07
- **Location:** London
- **Industry:** 59200 Sound recording and music publishing activities

## Why it went into administration

- Cash flow / liquidity pressure

## From the administrators' statement

Appendix C shows the Company's financial statements for the years ended 31 December 2014, 31 December 2013 and 31 December 2012

In the months leading up to the Administration the Groups financiai position become untenable and cashflow difficultles were preventing payments to key creditors The secured creditor of the Group’s holding company, Polymer, was becoming concerned with the Group's financial performance and the management team were attempting to negotiate repayment plans with numerous customers in order to prevent recovery action being taken against the Group The failure of the remaining group companies would be inevitable as they were reliant on support from Conexion Media Group Plc

In order to generate working capital the Board began to explore the prospect of disposing of certain of the Group’s owned music right portfolios Through discussions with industry contacts, the directors managed to obtain a number of indicative offers for certain of the Group's owned music rights, none of which were owned directly by the Company

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/01356293/filing-history/MzE0NTcxNDkxNGFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/01356293

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