Foam Company Limited(The) (02067653): administration
- Status
- Administration ended
- Administration began
- 2022-02-28
- Administrators
- Francis F A Wessely, Christopher Newell
- Administrators' firm
- Quantuma
- Incorporated
- 1986-10-27
- Location
- Maidenhead
- Industry
- 31030 Manufacture of mattresses
From the administrators' statement
3.1 As previously advised Quantuma Advisory Limited were first approached by the Company in January 2021 and subsequently instructed by the Company's Board of Directors on 9 February 2022 to discuss the financial situation of the company and the options available.
3.2 Prior to the termination of the Mammoth licence. Two options were being considered by the Board which were a Company Voluntary Arrangement (CVA) or an Administration (with the envisaged sale of the business as a pre pack). The termination of the licence made the CVA unviable due the loss in turnover and the administration route was recommended as the most optimum route to follow in order to attempt to obtain value for the business.
3.3 Despite there being strong interest in the business no acceptable offers were received for the purchase of the business as a going concern.
Administrators' statement of proposals (2022-04-27) · Companies House register