O Realisations 2017 Limited (04072884): administration
- Status
- Administration ended
- Administration began
- 2017-03-21
- Administrators
- Alastair Massey, Anthony John Wright
- Administrators' firm
- FRP Advisory
- Formerly
- Okini Limited
- Incorporated
- 2000-09-15
- Location
- London
- Industry
- 82990 Other business support service activities n.e.c.
Why it went into administration
- Parent or group failure
- Funding withdrawn / unable to refinance
- Sustained trading losses
From the administrators' statement
The Company was incorporated on 15 September 2000 and commenced trade shortly thereafter as a men’s fashion retailer, utilising an online platform. The Company was originally a direct subsidiary of Four (Holdings) Limited.
The share capital of the Company was purchased by the Parent in May 2013. The Parent is a well-known media, publishing and e-commerce company based in Paris, France.
Historically, the Company has been loss making and these losses have been funded by the Parent, albeit forecasts prepared for this financial year (period from 1 January 2017 to 31 December 2017) show the Company being break even at an EBITDA level by the end of the period. The Company also benefitted from shared services provided by the Parent since the date of acquisition. As at the date of this report, the Parent is owed approximately £4.37m as per the FY15 statutory accounts.
Administrators' statement of proposals (2017-04-04) · Companies House register