Premier Communications (Peterborough) Limited (03834055): administration
- Status
- In administration
- Administration began
- 2025-04-30
- Administrators
- Rehan Ahmed, Jeremy Nigel Ian Woodside
- Administrators' firm
- Quantuma
- Incorporated
- 1999-08-31
- Location
- Leeds
- Industry
- 17230 Manufacture of paper stationery
Why it went into administration
- Cash flow / liquidity pressure
- Creditor pressure / legal action
- Sustained trading losses
From the administrators' statement
Prior to Quantuma Advisory Limited (“QAL”) involvement the Company instructed independent agents John Pye & Sons Limited (“John Pye”) on 28 January 22025 to carry out a valuation and marketing exercise. The marketing exercise finished on 14 February 2025 with no submission of formal offers.
The Company had significant rental arrears for its trading premises along with significant HARC liabilities, the directors concerned about creditors taking enforcement action sought advice from their Accountants, TC Group Limited (“the accountants”). The accountants recommended that the directors speak to QAL with respect to obtaining insolvency advice. The MD sought advice from QAL on 13 March 2025, at the meeting it was determined that the Company was insolvent on the basis it was cash flow insolvent and that there would be insufficient working capital to enable the Company to continue to trade There were no requests made to potential funders because it was considered necessary to initiate an insolvency process as soon as possible and, due to a reduction in customer base, it was considered that trading following the Company entering into Administration would be loss-making and there would be the additional costs of the Joint Administrators in managing ongoing trading. Therefore, it was not considered to be in the creditors’ interests to prepare to trade on during Administration.
The Directors filed a Notice of Intention to Appoint Administrators (“NOI”) on 7 April 2025. The NOI was served on the Company, Lloyds Bank Commercial Finance Limited and RBS Invoice Finance Limited, the Company’s Qualifying Floating Charge Holders at that time. The filing of a NOI created an interim moratorium in favour of the Company. This was considered to be in the best interests of the general body of creditors.
Administrators' statement of proposals (2025-06-02) · Companies House register