Wickedweb Limited (04525441): administration
- Status
- Administration ended
- Administration began
- 2015-04-20
- Administrators
- Eric Walls, Wayne Harrison
- Administrators' firm
- RMT Accountants & Business Advisors
- Formerly
- Park Road Limited
- Incorporated
- 2002-09-03
- Location
- Gateshead
- Industry
- 62090 Other information technology service activities
Why it went into administration
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- Creditor pressure / legal action
From the administrators' statement
The history of the Company has been provided to us by the director of the Company Verification of this information has not been carried out by the Administrators
The Company provided a full service digital marketing and web design business A move to new premises which led to lengthy and extensive communication failure, and was not well managed, resulted in the Company suffering severe cash flow difficulties This fed to the Company coming under increasing pressure from its creditors
The Company sought to reduce tts operational overheads and the majority of staff were made redundant, with the director and a skeleton staff remaining to continue core operations and to assist with debtor collections The Company also explored the possibility of relocating to new premises to reduce its expenditure but this was not achievable The director also consulted with alternative finance providers with a wiew to refinancing the secured debt and providing additional finance facilities Regrettably, the Company was unable to secure an offer to refinance tts facilites and was unable to secure additional investment
Administrators' statement of proposals (2015-06-18) · Companies House register