# Clockfair Limited (02888776)

> Why UK company 02888776 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/02888776

- **Status:** Administration ended
- **Administration began:** 2023-02-01
- **Administrators:** Rebecca Makaruk, Matthew Ingram
- **Administrators' firm:** Kroll
- **Incorporated:** 1994-01-18
- **Location:** Birmingham
- **Industry:** 92000 Gambling and betting activities

## Why it went into administration

- COVID-19
- Weak consumer demand

## From the administrators' statement

• Following a compliance assessment conducted by the Commission in 2019, it was identified that the Company had failed to maintain effective anti-money laundering policies and controls at the Casino and received a financial penalty of £260,000 plus costs of £11,690. This coupled with the effects of the COVID-19 pandemic, during which the Casino was forced to close, had an immediate impact on the Company’s finances.

• Furthermore, customer footfall at the Casino did not return to pre-pandemic levels impacting the Company’s working capital and ability to pay its debts.

Appointment

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/02888776/filing-history/MzM3MjcxMDc1MWFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/02888776

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