Vesternet Ltd. (05165889): administration and why it failed

Vesternet Ltd. (05165889): administration

Status: Administration ended
Administration began: 2017-02-03
Administrators: Claire Louise Dwyer
Formerly: Zigbee (UK) Ltd.; Vesternet Ltd.; Zigbee Ltd.; Vesternet Ltd.; Zigbee (UK) Ltd.; Zigbee.Co.Uk Limited
Incorporated: 2004-06-29
Location: Didsbury
Industry: 47540 Retail sale of electrical household appliances in specialised stores

Why it went into administration

Creditor pressure / legal action
HMRC / tax arrears
Property / lease costs
Over-expansion / investment not recovered
Rising interest rates

From the administrators' statement

Relevant extracts from the Company's financial statements are summarised below

yle 30.6.2015 yle 30.6.2014 yle 30.6.2013

Turnover £948,411 £708,907 £377,625 Net profit(loss) £41,482

Administrators' statement of proposals (2017-03-02) · Companies House register

Dig into any UK company's accounts

Search a company to fetch every set of accounts it has filed at Companies House, from incorporation to the latest filing. Tagged (iXBRL) accounts are read directly. Older scanned PDF accounts are read with OCR (optical character recognition).

Profit & loss: revenue, margins and profit, year by year
Balance sheet: assets, liabilities, working capital and net assets
Cash flow: operating, investing and financing flows and free cash flow
Groups: consolidated figures are used when a group files group accounts

Vesternet Ltd. (05165889): administration

Why it went into administration

From the administrators' statement

Processing now

Recently viewed & analysed

Vesternet Ltd. (05165889)