Blazinstar Limited (05536329): administration
- Status
- Administration ended
- Administration began
- 2013-05-10
- Administrators' firm
- BM Advisory
- Incorporated
- 2005-08-15
- Location
- London
- Industry
- 73110 Advertising agencies
Why it went into administration
- Cash flow / liquidity pressure
- HMRC / tax arrears
- Creditor pressure / legal action
From the administrators' statement
The Company was incorporated on 15 August 2005 and traded as an integrated marketing agency, specialising in experiential marketing. The Company had 15 employees and traded from leasehold offices at Unit 14, Shoreditch Stables (North), 138 Kingsland Road, London E2 8DY. The Company directors are Shirra Smtlansky and Marvin Foster, who are also the Company’s only two shareholders (holding 500 ordinary shares each).
In April 2013, following a period of cash flow difficulties, creditor pressure and the accrual of Crown debts, the directors undertook an investigation into the affairs of the Company and based upon tts financial position, they determined that the Company was or was likely to become insolvent on a balance sheet and cash flow basis Accordingly, on 17 April 2013 the directors sought professional advice and on the same day a Notice of Intention to Appoint Administrators was filed at Court. A second Notice was filed on 1 May 2013. The delay in proceeding with an appointment was to enable independent agents to progress an ongoing marketing campaign and extended negotiations for the sale of different parts of the business, In order to preserve the business as a going concern, the Company was placed into Administration on 10 May 2013.
Administrators' statement of proposals (2013-06-04) · Companies House register