SPV 1234 Limited (04517897): administration
- Status
- Administration ended
- Administration began
- 2020-10-30
- Administrators' firm
- Quantuma
- Formerly
- Pixipixel Limited; Toby Newman Photography Limited
- Incorporated
- 2002-08-23
- Location
- Town Quay
- Industry
- 74201 Portrait photographic activities
Why it went into administration
- Creditor pressure / legal action
- Competition / price pressure
From the administrators' statement
_Quantuma Advisory Limited were first approached by the Company on 18 June 2020 and subsequently instructed on 6 July 2020. The proposed administrators worked with the Company's management to carry out a valuation and marketing exercise with a view to finding a purchaser for the Company's business and assets.
In order to protect the Company from legal action and preserve the value of its business and assets it was necessary to file a total of three notices of intention to appoint; the first on 25 September 2020, the second on 9 October, and the third on 23 October 2020. it was not our intention to file three notices however there was late interest in the business from a competitor and actions was therefore taken to extend the moratorium and enable this interest to be progressed.
A sale of the Company’s business and assets was achieved immediately following the appointment of Joint Administrators on 30 October 2020.
Administrators' statement of proposals (2020-11-26) · Companies House register