# Progeny Limited (02258320)

> Why UK company 02258320 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/02258320

- **Status:** Administration ended
- **Administration began:** 2023-11-01
- **Administrators:** Rochelle Schofield, Mike Dillon
- **Administrators' firm:** Leonard Curtis
- **Formerly:** Mechideal Limited
- **Incorporated:** 1988-05-16
- **Location:** Manchester
- **Industry:** 26110 Manufacture of electronic components

## Why it went into administration

- COVID-19
- HMRC / tax arrears
- Sustained trading losses
- Cyber attack / IT failure

## From the administrators' statement

The Company was incorporated in May 1988. The current Director of the Company is Brett Burby. The sole shareholder is Brett Burby.

The principal trading activity of the Company was as a retailer of access control systems. The Company traded from leasehold premises at Progeny House, 21a Manchester Road, Broad Oak Road, Accrington, BB5 2BQ. Prior to the Administration, the Company employed 8 members of staff.

The Company was latterly funded by way of an Invoice Finance Agreement with Close Brothers Limited (“Close”),90 who hold security by way of a Debenture incorporating fixed and floating charges created on 15 January 2020.

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/02258320/filing-history/MzQwNTI5ODgxMmFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/02258320

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