FOX IT Limited (05234874): administration
- Status
- Administration ended
- Administration began
- 2013-04-05
- Administrators' firm
- CMB Partners
- Formerly
- FOX IT Consulting and Trading Limited; Broomco (3553) Limited
- Incorporated
- 2004-09-17
- Location
- London
- Industry
- 62020 Information technology consultancy activities
From the administrators' statement
In February 2013, Bryan Lucas, a Partner in CMB Partners LLP, was introduced to the Company by an independent financial adviser, Norman Baker of Fillyoak Limited Mr Lucas was asked to review the financial position of the Company with the directors. It was noted that the three current directors had previously been employees of the Company and had purchased the business from the former directors/shareholdars, whereupon they had invested significant sums to meet ongoing cash-flow
requirement
Following a full financial review, the directors concluded that the Company was insolvent on both a commercial insolvency basis and a balance sheet test and advice was given in respect of the options available to the directors, which resulted in the directors concluding that the Company should be placed
Administrators' statement of proposals (2013-06-20) · Companies House register