MC Partners Limited (04985982): administration
- Status
- Administration ended
- Administration began
- 2018-08-30
- Administrators
- Adam Harris, Guy Robert Thomas Hollander
- Administrators' firm
- Mazars
- Formerly
- MCP Contracts Limited
- Incorporated
- 2003-12-05
- Location
- London
- Industry
- 78200 Temporary employment agency activities
Why it went into administration
- Creditor pressure / legal action
- Competition / price pressure
- Funding withdrawn / unable to refinance
- Sustained trading losses
From the administrators' statement
The Company was set up in 2003 by Daniel Malka and Simon Leich and was originally known as MC Contracts Limited until 2014 when Simon Leich left the Company. The Company appointed another director, Krista Alves in April 2015 but she subsequently resigned in February 2018. The Company was a wholly owned subsidiary of Synergic which was incorporated in 2014 as a holding company.
The principle activity of the Company was recruitment, focusing on the provision of contractors and permanent staff to Recruitment Process Outsourcing companies (“RPOs”) and directly to end-user clients. The Company also derived some of its income from recruitment consultancy.
The main reasons for the Company’s failure was increased competition from RPOs which impacted turnover and drove down margins.
Administrators' statement of proposals (2018-11-08) · Companies House register