# Bezier Acquisitions Limited (05462837)

> Why UK company 05462837 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/05462837

- **Status:** Administration ended
- **Administration began:** 2011-08-19
- **Administrators:** Matthew David Smith, Nicholas Guy Edwards
- **Administrators' firm:** Deloitte
- **Formerly:** Hackremco (No. 2272) Limited
- **Incorporated:** 2005-05-25
- **Location:** London
- **Industry:** 2222

## Why it went into administration

- Funding withdrawn / unable to refinance
- Sustained trading losses

## From the administrators' statement

The Group had a significant amount of secured debt, £78 6m, on Its balance sheet This was comprised of senior debt, mezzanine debt and a revolving credit facility of £46m, £16m and £16m respectively, which was all secured against the Group’s assets Due to a deterioration in trading conditions and the high cost of servicing interest payments, the Group was forecast to run out of cash by the end of August 2011 without the injection of additional funds

The Previous Lenders at the time were unwilling to inject additional funds into the existing Group structure, and engaged Deloitte CFA to run a disposal process in June 2011 Asa result of this process, the secured debt was subsequently purchased by the Secured Lender, Grace Bay tI Holdings S ar|, an associate of H| G Magenta, in July 2011

The only assets of the Company were its shareholdings in Bezier Holdings, Coutts, Pointer Design and Bezier Ireland Following significant restructuring negotiations with the Company’s key stakeholders, the Company's directors appointed Administrators on 19 August 2011 to implement a pre-packaged sale of these shareholdings 1n order to ensure the best result for creditors

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/05462837/filing-history/MzA0NTQ1MzAxN2FkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/05462837

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