# Magnetic Therapy Ltd (02802597)

> Why UK company 02802597 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/02802597

- **Status:** Administration ended
- **Administration began:** 2014-11-10
- **Administrators:** James Bernard Stephen, David J Hill
- **Administrators' firm:** BDO
- **Formerly:** Magentic Therapy Ltd; Advanced Psychology Limited
- **Incorporated:** 1993-03-23
- **Location:** Newcastle upon Tyne
- **Industry:** 46900 Non-specialised wholesale trade

## Why it went into administration

- HMRC / tax arrears
- Creditor pressure / legal action
- Sustained trading losses
- Parent or group failure

## From the administrators' statement

2.1. The company was incorporated on 23 March 1993. The Company traded as an online retailer via a web site www.magneticstyle co uk. The fulfilment of the internet orders was undertaken by PPF Shipping Limited, a company within the Phytoscience Group The Group structure ts as follows:

Phytoscience Ltd

Phytoscience Magnetic PPF Shipping Li

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/02802597/filing-history/MzExNDkwODMyOGFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/02802597

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