# Triniteq Service & Supplies Limited (02121282)

> Why UK company 02121282 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/02121282

- **Status:** Administration ended
- **Administration began:** 2022-10-03
- **Administrators:** Gary Bell, Jeremy Nigel Ian Woodside
- **Administrators' firm:** Quantuma
- **Formerly:** Fawnfax Limited
- **Incorporated:** 1987-04-09
- **Location:** Manchester
- **Industry:** 96090 Other service activities n.e.c.

## Why it went into administration

- Cash flow / liquidity pressure
- Parent or group failure

## From the administrators' statement

3.1 Quantuma were first approached by the Group on 26 July 2022 following an introduction from ThinCats in their capacity as a first ranked qualifying charge holder over Power EPOS with corporate cross-guarantees from other Group entities.

3.2 The Group initially engaged Quantuma to complete a review detailing the options available to the Group in its current financial position, which included a solvent option of continuing to trade and restructure following the introduction of funds from an investor. Further detail on the initial instruction, to provide a review of the wider Group and the options available are including at Appendix IX.

3.3. It quickly became apparent that the proposed introduction of funds, that would resolve the Group’s cash flow difficulties, would not materialise. Therefore, without the availability of additional capital, it was considered that the Group’s entities were insolvent pursuant S.123 of the Insolvency Act 1986 in so far as “the Company cannot pay its debts as they fall due” and steps should be taken to the place the Company into Administration as it would enable the best chance of selling the business as a going concern.

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/02121282/filing-history/MzM1NjU4ODQyMWFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/02121282

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