Immersive Education Limited (03638696): administration
- Status
- Administration ended
- Administration began
- 2012-10-03
- Administrators
- Robert David Hewitt, Lynn Gibson
- Administrators' firm
- Ccoo Creditlink Creditlink Account Recovery Solutions
- Incorporated
- 1998-09-25
- Location
- West Byfleet
- Industry
- 9305
From the administrators' statement
The Company developed a range of educational computer games which were sold to both educational departments and individuals, (10% / 90% split) At present there are four active titles
As a result of the falloff in funding to many educational authorities, the Company's turnover has reduced by approximately 50% from the historical levels Whilst the management accounts continued to show a net profit, the cash inflows were insufficient to maintain the required repayments of bank indebtedness
The Company was unable or unwilling to restructure its banking and without access to further funding the directors decided to place the Company into Administration
Administrators' statement of proposals (2012-11-20) · Companies House register