Angel Group Limited (04090667): administration
- Status
- Administration ended
- Administration began
- 2012-10-12
- Administrators
- Robert Andrew Croxen, Jane Bronwen Moriarty
- Administrators' firm
- KPMG
- Formerly
- Angel Group PLC; Angel Holdings (UK) Limited
- Incorporated
- 2000-10-16
- Location
- Birmingham
- Industry
- 55900 Other accommodation
Why it went into administration
- Funding withdrawn / unable to refinance
- Creditor pressure / legal action
- Loss of a key customer, supplier or contract
- Bad debts / customer insolvency
- Parent or group failure
From the administrators' statement
AG and AI operate a property development and lettings business. Both companies are owned by the Director and are managed as one group
The Group had historically provided letting services for three UKBA contracts to house asylum seekers. Since the loss of the UKBA contracts the Group made efforts to privately let its properties and there have been a small number of property sales
KPMG were engaged to perform an JBR during the summer of 2011 Following this, the Group agreed to engage an independent CRO to control its cash flow, provide a level of oversight and assist in preparing a business plan for the Group
Administrators' statement of proposals (2012-12-10) · Companies House register