Secure Electrans Limited (03830044): administration
- Status
- Administration ended
- Administration began
- 2014-03-17
- Administrators
- Andrew John Duncan, Alex David Cadwallader
- Administrators' firm
- Leonard Curtis
- Formerly
- Secure Electrans.Com Limited
- Incorporated
- 1999-08-23
- Location
- London
- Industry
- 62090 Other information technology service activities
Why it went into administration
- Funding withdrawn / unable to refinance
- Shift to online / high-street decline
- Cash flow / liquidity pressure
- Management failings / irregularities
From the administrators' statement
The Company was incorporated on 23 August 1999 with Michael Jarman, James Grant, Philip Edwards and Michael Eggleton as the founding directors
The Company was onginally established to address the growing need for secure payment processing technology in the utility sector, due to the move from the traditional analogue meters to the modem digitat and remote readers by the major utility providers
The Company secured large amounts of investment from individuals and institutions through multple rights issues and loan agreements
Administrators' statement of proposals (2014-05-14) · Companies House register