Mvision Private Equity Advisers Limited (04156948): administration
- Status
- In administration
- Administration began
- 2023-09-18
- Administrators
- Robert Goodhew, Robert Armstrong
- Administrators' firm
- Kroll
- Formerly
- Acornbright Limited
- Incorporated
- 2001-02-08
- Location
- London
- Industry
- 64999 Financial intermediation not elsewhere classified
Why it went into administration
- Regulatory change or action
- Competition / price pressure
- Property / lease costs
- Rising interest rates
- Rising costs / inflation
- Bad debts / customer insolvency
- Brexit
From the administrators' statement
The deterioration of the Company’s financial position was caused by a number of factors. As outlined in the main body of the report, the global fundraising market has been extremely challenging, influenced by an unstable macroeconomic landscape, higher inflation and interest rates and weaker economic growth all resulting in reduced available capital for investing. As a result, the Company's revenues fell.
Ultimately, the failure to received repayment of the Loan, despite promises, and the non-payment of trade debtors to its associate MVision Asia, reduced the global profit share and associated cash flow available to the Company.
Appointment
Administrators' statement of proposals (2023-11-14) · Companies House register