Team1664 Limited (05615548): administration
- Status
- Administration ended
- Administration began
- 2023-11-10
- Administrators
- Kirsty Swan, Conrad Alan Beighton
- Administrators' firm
- Leonard Curtis
- Formerly
- Heat Recruitment Limited; Ripmonamie Limited; Heat Recruitment Limited
- Incorporated
- 2005-11-08
- Location
- Birmingham
- Industry
- 78109 Other activities of employment placement agencies
Why it went into administration
- HMRC / tax arrears
- COVID-19
- Creditor pressure / legal action
- Sustained trading losses
From the administrators' statement
3.1 The Company was incorporated on 8 November 2005 and commenced to trade immediately thereafter.
3.2 The Company latterly traded from leasehold premises at One Castlepark, Tower Hill, Bristol BS2 OJA and from serviced offices located at Arkwright House, Parsonage Gdns, Manchester M3 2LF.The principal trading activity of the Company was recruitment, with specialist sectors covering Digital and Technology, Insurance, Financial Services, Legal, Public Sector and Sales.
3.3 The business has traded well for many years. However, given the industry in which the business operated, the Company was materially affected by the impact of the Covid-19 pandemic. The Company sought to mitigate the impact of reduced turnover by utilising reserves and taking loans in the sum of £500,000 to survive during this period. This included finance from Aldermore in relation to a fit-out at the Company’s Bristol premises, and a CBILS loan from Funding Circle.
Administrators' statement of proposals (2023-11-30) · Companies House register