# Phasor Solutions Limited (05521261)

> Why UK company 05521261 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/05521261

- **Status:** Administration ended
- **Administration began:** 2020-04-07
- **Administrators:** Benjamin John Wiles, Geoffrey Wayne Bouchier
- **Administrators' firm:** Kroll
- **Formerly:** Cole and Mcgowan Ltd
- **Incorporated:** 2005-07-28
- **Location:** The Shard
- **Industry:** 26309 Manufacture of communication equipment other than telegraph, and telephone apparatus and equipment

## Why it went into administration

- COVID-19
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure

## From the administrators' statement

As detailed at section 4, the Company s business was pre-product revenue at the Appointment Date, and since Its inception had relied on a number of sources of finance for its operations

The Company and its parent had been in discussions with potential new investors into the business throughout 2018 and 2019 but had been unable to raise the additional funds required to close the investment round Due to resulting cash constraints. the Company had reduced its operating costs and headcount during this period as well as extending its working capital cycle

From November 2019. the Company was in discussions with a large multinational corporation in relation

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/05521261/filing-history/MzI2NjM3NzI4M2FkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/05521261

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