Archant Limited (04126997): administration
- Status
- Administration ended
- Administration began
- 2020-08-28
- Administrators
- Christopher Robert Pole, Howard Smith
- Administrators' firm
- KPMG
- Formerly
- Legislator 1512 Limited
- Incorporated
- 2000-12-18
- Location
- Birmingham
- Industry
- 70100 Activities of head offices
Why it went into administration
- COVID-19
- Pension deficit
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- HMRC / tax arrears
From the administrators' statement
KPMG was first introduced to the Group by its pension’s advisor in August 2019 as they sought support and advice in understanding their pension deficit options. KPMG had not had a prior professional relationship with the Group or any ‘of its directors prior to this engagement.
The Archant Group previously provided a hybrid pension scheme, consisting of final salary and defined contribution benefits to its employee base through the Archant Pension and Life Assurance Scheme. The Pension Scheme was closed to new entrants in February 1998 and to future accrual from 31 May 2016.
The Pension Scheme was of significant scale relative to the size of the business and the deficit on the Pension Scheme was recently calculated at £114.5 million, with the share being attributed to AL being £5.6 million and the share being attributed to ACML being £108.9 million.
Administrators' statement of proposals (2020-10-19) · Companies House register