Gustav (Realisations) Limited (04621957): administration
- Status
- Administration ended
- Administration began
- 2012-04-16
- Administrators' firm
- FRP Advisory
- Formerly
- Jaeger Group Limited; Ibis (812) Limited
- Incorporated
- 2002-12-19
- Location
- London
- Industry
- 47710 Retail sale of clothing in specialised stores
Why it went into administration
- Parent or group failure
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- HMRC / tax arrears
From the administrators' statement
On 12 April 2012 FRP Advisory LLP (‘FRP”) was approached by BC to undertake an urgent financial review of the position with the Company. Prior to this engagement, FRP Advisory LLP had no prior relationship with the Company, M40 or the Directors or Shareholders of the companies.
The work undertaken established that, in relation to the Jaeger Group (from which any value in the shares in JLL would derive), there was a severe lack of working capital and the group was insolvent on a cash flow basis. This was evidenced by:
« The Company and the wider Jaeger Group had been unable to repay the sums demanded by Lloyds of c.£16.5 million;
Administrators' statement of proposals (2012-06-14) · Companies House register