Nechells Regeneration Project (05400262): administration
- Status
- Administration ended
- Administration began
- 2015-11-17
- Administrators
- Richard Paul James Goodwin
- Administrators' firm
- Mobeus Equity Partners
- Formerly
- The Elizabeth Project
- Incorporated
- 2005-03-21
- Location
- Birmingham
- Industry
- 82990 Other business support service activities n.e.c.
Why it went into administration
- Property / lease costs
- Management failings / irregularities
From the administrators' statement
Nechells Regeneration Project was a management vehicle put in place to run the operation at Nechells Baths, which was owned by an associated company Birmingham & Black Country Community Foundation (BBCCF)
Nechells Regeneration Project suffered over £1 Million worth of debt due to a fraud that had been committed against the company
To try to allewate this situation a loan of £900,000 was taken out with Futurebuilders Engiand Ltd
Administrators' statement of proposals (2016-01-13) · Companies House register