GSPP Realisations 2014 Limited (03583513): administration
- Status
- Administration ended
- Administration began
- 2014-04-30
- Administrators' firm
- ReSolve
- Formerly
- Golden Square Post Production Limited; Videoplan Limited
- Incorporated
- 1998-06-18
- Location
- London
- Industry
- 59112 Video production activities
Why it went into administration
- HMRC / tax arrears
- Loss of a key customer, supplier or contract
- Cash flow / liquidity pressure
- Sustained trading losses
From the administrators' statement
Incorporated on 18 June 1998 as Videoplan Limited, Golden Square Post Production Limited (the Campany) commenced trading as a video post-production business concentrating on television commercials, located in Golden Square, London The Company progressively expanded operations to include broadcast tdents, music promos and video content for new media, including internet, mobile phone, sociai networking and outdoor advertising such as escalator panels, becoming a multi-channel content creation house employing 36 staff
In September 2013, the Company received notice from one of its largest customers that it would be switching to a new advertising provider The Company anticipated the switch would take place in early 2014, providing the Company with the benefit of Chnstmas advertising, historically the busiest period for the customer The customer, however, decided to bring forward the switch resulting in the Company losing a substantial amount of revenue
Following the loss of the customer, the Company faced cash flow difficulties and it became apparent that further funding or investment from private equity or potential strategic partners was required
Administrators' statement of proposals (2014-05-28) · Companies House register