Goal Group Limited (02438530): administration
- Status
- Administration ended
- Administration began
- 2024-09-04
- Administrators' firm
- Opus Restructuring
- Formerly
- Global Operations & Administration Limited
- Incorporated
- 1989-11-01
- Location
- Milton Keynes
- Industry
- 70229 Management consultancy activities other than financial management
Why it went into administration
- Creditor pressure / legal action
From the administrators' statement
A director of the Company initially approached Allister Manson of Opus Restructuring LLP (“Opus”) in August 2023 for advice in relation to the significant historic liabilities that the Company owed to its customers. It was explained that the Company was profitable on a dayto-day basis, under the stewardship of its acting CEO and CFO, Elliot Howard and James Cole.
Opus was again approached in March 2024, following an updated review of the Company’s financial position, and were engaged in an advisory capacity to offer solutions to try to restructure the Company’s significant historic liabiities to customers, which went back many years. Opus worked alongside the Company to try to seek consensual restructuring of these debts with key creditors but, after a few weeks, it became clear that this was unlikely to be possible.
The main reason for this was that, during the course of this work, the Company’s acting management discovered certain historic discrepancies within the Company’s systems. It became clear that, while the overall magnitude of the creditor position was agreed, individual clients were not always aware of the sums owing to them.
Administrators' statement of proposals (2025-01-09) · Companies House register