# Rigzone Limited (02913809)

> Why UK company 02913809 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/02913809

- **Status:** Administration ended
- **Administration began:** 2012-07-27
- **Formerly:** Sandell Interiors Limited
- **Incorporated:** 1994-03-29
- **Location:** London
- **Industry:** 43290 Other construction installation

## Why it went into administration

- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- Creditor pressure / legal action

## From the administrators' statement

The Company was incorporated on 29 March 1994 by former directors, Leonard Troth and Stuart Lomas. The current directors, Adrian Starmer and Peter Staruer, were introduced to the Company in 2000 and 2004 respectively

The Company’s sole shareholder 1s Sandell Group (UK) Limited, formerly Sandell Interiors Holdings Limited (‘the Group’), which holds 1,000 ordinary shares

The current directors purchased the Company from the former directors in January 2004. They funded the purchase of the shares with a bank loan of £600,000 from the Governor and Company of the Bank of Scotland (‘the Bank’), loan notes of £425,000 to the previous directors and released cash reserves of £475,000, totalling £1,500,000. The Bank was given a debenture over the compames within the Group as well as a cross guarantee over all of the group compares

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/02913809/filing-history/MzA2NDUzNjM0N2FkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/02913809

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