Mindstorm Ltd (05071596): administration
- Status
- Administration ended
- Administration began
- 2012-04-18
- Administrators
- Kevin Anthony Murphy, Richard Howard Toone
- Administrators' firm
- Insolvency Practitioners of CVR Global
- Formerly
- Betaminds Limited
- Incorporated
- 2004-03-12
- Location
- London
- Industry
- 5118
Why it went into administration
- HMRC / tax arrears
- Competition / price pressure
- Cash flow / liquidity pressure
- Creditor pressure / legal action
- Sustained trading losses
- Weather / natural events
From the administrators' statement
The Company was incorporated on 12 March 2004 as Betaminds Limited to provide general leading edge technology solutions and consultancy to the trade marketing function of FMCG (Fast-Moving Consumer Goods) companies
In March 2007 the Company changed its name to Mindstorm Limited and shifted Its focus to providing multi-touch / surface computing solutions for the Retail, Hospitality and Exhibition sectors The Company designed, assembled and installed multi touch interactive tables and surfaces, predominantly for the leisure and retail sectors These products were designed and produced bespoke to customers’ individual requirements, and were sold under brand names ‘Bar’, ‘Eclipse’, ‘Aurora’ and ‘Vortex’
In 2009, in an attempt to drive forward its strategy of becoming software-centric company targeting the casino segment, the Company secured external investment from 1° Corporate Technologies APS (‘1CT”) (a Danish Venture Capital firm) through its investment vehicle Ceranco Equity S C S ("Ceranco")
Administrators' statement of proposals (2012-05-10) · Companies House register