Reabold Resources PLC (03542727): administration
- Status
- Administration ended
- Administration began
- 2012-07-23
- Administrators
- Mark Robert Fry, Kirstie Jane Provan
- Administrators' firm
- Begbies Traynor
- Formerly
- Adventis Group PLC; Oakmont Group Limited; Reddin Associates Limited
- Incorporated
- 1998-04-08
- Location
- London
- Industry
- 64304 Activities of open-ended investment companies
Why it went into administration
- Cash flow / liquidity pressure
- HMRC / tax arrears
- Creditor pressure / legal action
- Property / lease costs
- Sustained trading losses
From the administrators' statement
The Company ts AIM quoted and acted as a holding company for a number of subsidianes specialising in the media, technology, healthcare, property and financial sectors The initial aim was to bring together a number of different specialist divisions delivering bespoke customer solutions and to leverage from cross-selling and economies of scale (the Company and Its subsidianes together “the Group”)
The Company traded from leasehold premises at Adventis House, Post Office Lane, Beaconsfield, Buckinghamshire, HP9 1FN (“Adventis House”) Certain other Group companies have utilised the space at Adventis House, with appropnate recharges made to the various intercompany accounts to reflect this
The Company began to expenence financial difficulties as a consequence of deferred cash consideration obhgations arising following the purchase of certain of the subsidianes The subsequent below expectation performance of a number of subsidianes left the Company with insufficient cash flow, placing significant pressure on the group and its banking facilities
Administrators' statement of proposals (2012-09-12) · Companies House register