Xconnect Global Networks Limited (05365669): administration and why it failed

Xconnect Global Networks Limited (05365669): administration

Status: Administration ended
Administration began: 2019-08-08
Administrators: Graham Paul Bushby, Damian Webb
Administrators' firm: RSM
Incorporated: 2005-02-15
Location: London
Industry: 82990 Other business support service activities n.e.c.

Why it went into administration

Funding withdrawn / unable to refinance
Over-expansion / investment not recovered
Sustained trading losses

From the administrators' statement

Relevant extracts from the Company’s audited financial statements and management accounts are summarised below.

Balance Sheet 08-Aug-19 31-Dec-18 31-Dec-17

unaudited unaudited audited £'000 £'000 £'000

Administrators' statement of proposals (2019-10-11) · Companies House register

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Xconnect Global Networks Limited (05365669): administration

Why it went into administration

From the administrators' statement

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Xconnect Global Networks Limited (05365669)