Median Recruitment Ltd. (03361326): administration
- Status
- Administration ended
- Administration began
- 2011-11-16
- Administrators
- Neil A Bennett, Alex David Cadwallader
- Administrators' firm
- Leonard Curtis
- Incorporated
- 1997-04-28
- Location
- London
- Industry
- 7450
Why it went into administration
- HMRC / tax arrears
- Competition / price pressure
From the administrators' statement
The Company latterly traded from leasehold premises at 3 Kingly Street, London W1B 5PB_ The pnincipal trading activity was specialised recruitment
Three-quarters of Company’s business was lost following a sale of the IT division in 2009 and departure of the consultant who ran the division This included a contract with one of the Uk’s largest law firms for provision of IT support professionals which was worth approximately £1 2m per annum
Additionally, the Company suffered from an overall decline in the PR industry and, despite reducing overheads, including a reduction in staff from 16 to 3, was unable to increase turnover and net profit This resulted in the Company falling into arrears with HM Revenue & Customs (“HMRC”) in respect of PAYE and NIC totalling some £145,000 The Company entered into a Time to Pay agreement with HMRC with a view to reducing these arrears, but was unable to keep to this arrangement
Administrators' statement of proposals (2012-01-10) · Companies House register