BLI Education Limited (02292950): administration
- Status
- Administration ended
- Administration began
- 2011-08-26
- Administrators' firm
- Begbies Traynor
- Formerly
- TAG Learning Limited; TAG Developments Limited; DRJ & J Developments Limited
- Incorporated
- 1988-09-05
- Location
- Bristol
- Industry
- 7221
Why it went into administration
- Creditor pressure / legal action
- Cash flow / liquidity pressure
- Sustained trading losses
- Parent or group failure
- Competition / price pressure
From the administrators' statement
The Company's immediate parent company ts Black Lion Investments Limited (“Black Lion’) Black Lion also owns the entire share capital of Sherston Publishing Group Limited (“Publishing”) which in turn owns the entire share capital of Sherston Software Limited ("Software") The Company was previously known as TAG Developments Limited and TAG Learning Limited but changed its name to BLI Education Limited on 19 December 2008 This group of companies are collectrvely known as “the Group”
The Company was incorporated in 1988 and sold third party computer equipment and software to UK primary schools It also developed a range of assessment software products The Company operated under the name of well established brands — TAG Learning, Economatics Education, AVP and BusyBrains The Company was based in Sherston, near Malmesbury with a distribution facility in Sheffield and had a total of 19 members of staff During the year ended December 2009, the Company’s turnover was in excess of £5 million Turnover also included product sales from an associated group company
The Company banked with Bank of Scotland PLC (“BOS”) and utilised an invoice discounting facility from Lloyds TSB Commercial Finance Limited ("LTSBCF”) Both lenders have the benefit of fixed and floating charge security over the Company's assets including its goodwill and intellectual property rights (“IPR”), stock, equipment and debtors Funding supplied to Black Lion in 2008 by a consortium of investors ("the Loan Note Holders”) was also granted security by the Company tn the form of fixed and floating charges over the Company's assets
Administrators' statement of proposals (2011-10-11) · Companies House register