On-Communications Limited (05616277): administration
- Status
- Administration ended
- Administration began
- 2016-07-11
- Incorporated
- 2005-11-08
- Location
- London
- Industry
- 61200 Wireless telecommunications activities
Why it went into administration
- Creditor pressure / legal action
- Property / lease costs
From the administrators' statement
By the end of May 2016, the business had accrued substantial trade liabilities and given its lack of mcome, required further funding in order to satisfy its historic habilities and ongoing working capital requirements. The Group approached Candy to provide bridging finance pending an expectation of a significant equity rase In that regard, the Group had engaged an independent non-exclusive equity fundraiser to advise on investor relations and seek further investment
4.5
4.10
Administrators' statement of proposals (2016-09-15) · Companies House register