Elev8 Access Platforms Limited (05902099): administration
- Status
- In administration
- Administration began
- 2024-12-05
- Administrators
- John Anthony Lowe, Yasmin Bhikha
- Administrators' firm
- FRP Advisory
- Formerly
- Cinderella Access Platforms Limited; Cinderella (Access) Limited
- Incorporated
- 2006-08-10
- Location
- Meridian Business Park
- Industry
- 43999 Other specialised construction activities n.e.c.
Why it went into administration
- HMRC / tax arrears
- Cash flow / liquidity pressure
- Creditor pressure / legal action
- Rising costs / inflation
- Loss of a key customer, supplier or contract
From the administrators' statement
The Company experienced cashflow pressures in early 2024, driven by overdue debtor balances, inflationary pressures and delays in new contract start dates.
At the start of 2024, the Company instructed various advisers to identify potential parties to either acquire or invest in the Company, which was unsuccessful.
In May 2024, the Director also instructed Kroll to identify potential parties to either acquire or invest in the Company. Kroll and management sought to address cash constraints (to provide time for options to be explored) by requesting a new TTP with HMRC. An investor was found and White Knight Consulting injected £250,000 in the Company. These funds were used to reduce HMRC’s debt.
Administrators' statement of proposals (2025-01-27) · Companies House register