Media Square PLC (04006884): administration
- Status
- Administration ended
- Administration began
- 2011-12-08
- Administrators
- Zelf Hussain, Robert Jonathan Hunt
- Administrators' firm
- PwC
- Formerly
- Wemedia PLC
- Incorporated
- 2000-06-02
- Location
- Leeds
- Industry
- 7487
Why it went into administration
- Funding withdrawn / unable to refinance
- Creditor pressure / legal action
- Cash flow / liquidity pressure
- Sustained trading losses
From the administrators' statement
The Company was incorporated in 2000 and acted as a non trading holding company of a leading marketing communications group with focused expertise in advertising, design, marketing, public relations and research
The Company's purpose was to provide a structure whereby finance raised at Company level would be made available to the group operating subsidiaries. As such, the Company's main assets were shares in the subsidiaries and intercompany loan receivables. The Company acted as guarantor of the group's borrowings, which were also secured over the assets of the group as a whole
Administrators' statement of proposals (2012-02-08) · Companies House register