# Source Personnel Limited (05107695)

> Why UK company 05107695 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/05107695

- **Status:** In administration
- **Administration began:** 2023-08-16
- **Administrators:** Andrew James Pear, Milan Vuceljic
- **Administrators' firm:** Moorfields
- **Incorporated:** 2004-04-21
- **Location:** London
- **Industry:** 78200 Temporary employment agency activities

## From the administrators' statement

Moorfields was initially approached by the Director on 21 June 2023 to help advise on the Company’s options, as it was deemed likely to become insolvent. An engagement letter was issued on 13 July 2023 and the Company was formally engaged on 21 July 2023. The initial introduction was from an independent contact in a global recruitment network. 2.4

In addition to advising on the Company’s options, the advice covered marketing the business and also involved liaising with the agents engaged to market the business, negotiating and agreeing the sale contract, which was to be signed following the Administrators’ appointment. The Administrators’ pre-appointment costs are subject to creditor approval.

On the 10 August 2023, the Director resolved to take steps to place the Company into Administration. Solicitors drafted the relevant resolutions and appointment forms to place the Company into Administration. The notice of intention to appoint Administrators was sworn and the documents were subsequently filed at Court on 11 August 2023 and served on the secured creditors HSBC Bank plc (“HSBC”) and HSBC Invoice Finance Limited (“HSBCIF”). The subsequent appointment document was filed at Court on 16 August 2023 and the Company moved into Administration.

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/05107695/filing-history/MzM5NDY1NDc1OWFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/05107695

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.