Soho Music Consulting Limited (05688908): administration
- Status
- Administration ended
- Administration began
- 2023-06-14
- Administrators
- Christopher Newell, Nicholas Simmonds
- Administrators' firm
- Quantuma
- Incorporated
- 2006-01-26
- Location
- Watford
- Industry
- 96090 Other service activities n.e.c.
Why it went into administration
- Cash flow / liquidity pressure
From the administrators' statement
The Company’s director was referred to Quantuma Advisory Limited by Shona Keith from Your Right Hand-Finance Team Ltd on 19 May 2023 to help advise on the options available for the Company, as it was deemed to be insolvent.
Following a review of the financial position together with various discussions with the Directors it was established that the Company was insolvent on both balance sheet basis and cash flow basis, as the Company could not pay its debts as and when they fell due.
It had been decided to place the Company into Administration via a pre-packaged administration sale as there was insufficient working capital and no prospect of persuading new funding to allow medium-term trading to continue in order that the business and assets could be exposed thoroughly to the market. -
Administrators' statement of proposals (2023-08-15) · Companies House register