Paragon Scheme Management Services Limited (03176719): administration
- Status
- In administration
- Administration began
- 2024-12-09
- Administrators
- Alexander Kinninmonth, James Prior
- Administrators' firm
- FRP Advisory
- Incorporated
- 1996-03-22
- Location
- Southampton
- Industry
- 65120 Non-life insurance
Why it went into administration
- HMRC / tax arrears
- COVID-19
- Creditor pressure / legal action
- Regulatory change or action
- Rising costs / inflation
- Property / lease costs
- Competition / price pressure
From the administrators' statement
• PSMSL was incorporated in 1997 and provides a range of services to landlords and tenants, which are introduced via lettings agencies.
• Services provided include tenant referencing for residential landlords and a non-regulated warranty product to landlords in the event of tenant defaults.
• PSMSL also provides ancillary services including driver and employee reference checks, outsourced credit control services and acts as an introducer (under FCA appointed representative status) of insurance products to PAL (connected via common control).
Administrators' statement of proposals (2025-01-03) · Companies House register