Locallife Holdings Limited (03988240): administration
- Status
- Administration ended
- Administration began
- 2013-06-13
- Administrators
- Jamie Taylor, Louise Donna Baxter
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2000-05-09
- Location
- Southend on Sea
- Industry
- 73110 Advertising agencies
Why it went into administration
- Over-expansion / investment not recovered
- Competition / price pressure
From the administrators' statement
The Administrators’ statement of proposals for achieving the purpose of the administration which will be sent to creditors in due course will provide detailed information tn relation to the Company However, to assist creditors who may have a limited understanding of the Company and its affairs to better understand the reasons for the assignment, we have provided certain background information at this stage
The Company primarily acted as a holding company in respect of trading entities and did not conduct trading activites The Company sourced investment funds in order to undertake a software development project As a result of the project, the Company held intellectual property rights representing trade marks, domain names and software
The reasons for the Company’s insolvency
Administrators' statement of proposals (2013-08-07) · Companies House register