UC Group Ltd (03762366): administration and why it failed

UC Group Ltd (03762366): administration

Status: Administration ended
Administration began: 2019-04-16
Administrators: Russell Downs, Edward John Macnamara
Administrators' firm: PwC
Formerly: Uc.Com Ltd
Incorporated: 1999-04-26
Location: Leeds
Industry: 70100 Activities of head offices

Why it went into administration

Regulatory change or action
Funding withdrawn / unable to refinance
Cash flow / liquidity pressure
Creditor pressure / legal action

From the administrators' statement

they are in administration

Background

UCG and STG are the top two holding companies in the Group, which provides merchant acquirer and payment services primarily through its three operating subsidiaries STFS, STL and STI.

Administrators' statement of proposals (2019-06-24) · Companies House register

Dig into any UK company's accounts

Search a company to fetch every set of accounts it has filed at Companies House, from incorporation to the latest filing. Tagged (iXBRL) accounts are read directly. Older scanned PDF accounts are read with OCR (optical character recognition).

Profit & loss: revenue, margins and profit, year by year
Balance sheet: assets, liabilities, working capital and net assets
Cash flow: operating, investing and financing flows and free cash flow
Groups: consolidated figures are used when a group files group accounts

UC Group Ltd (03762366): administration

Why it went into administration

From the administrators' statement

Processing now

Recently viewed & analysed

UC Group Ltd (03762366)