# TL Realisations Limited (04001915)

> Why UK company 04001915 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/04001915

- **Status:** Administration ended
- **Administration began:** 2020-08-06
- **Administrators' firm:** PwC
- **Formerly:** Travelex Limited; Travelex PLC; Ibis (576) Limited
- **Incorporated:** 2000-05-25
- **Location:** Leeds
- **Industry:** 82990 Other business support service activities n.e.c.

## Why it went into administration

- Funding withdrawn / unable to refinance
- COVID-19
- Cash flow / liquidity pressure
- Sustained trading losses
- Cyber attack / IT failure
- Property / lease costs

## From the administrators' statement

We've enclosed at Appendix C the information required to be provided to you by SIP 16. Some of that information is repeated below where beneficial or necessary to do so for the purposes of these proposals. Please note that the Group and its restructuring transaction are large and complex and therefore we have-focussed our report on the ‘matters likely to be of most significance, relevance and interest for creditors. |

Background to the Travelex Group

Founded in 1976, the, Travelex Group was the global market leader in cash foreign exchange services. It traded in over 80 currencies and operated in over 60 countries, and in the year ended 31 December 2019 (FY 19), it generated revenues of £805m. Travelex had three main businesses as described below.

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/04001915/filing-history/MzI3NzMyNjM1NGFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/04001915

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.