Extreme Adventure Ltd (05910765): administration
- Status
- Administration ended
- Administration began
- 2020-11-30
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2006-08-18
- Location
- Birmingham
- Industry
- 49410 Freight transport by road
Why it went into administration
- Creditor pressure / legal action
- COVID-19
From the administrators' statement
The Company was incorporated on 18 August 2006 but did not start trading until May 2010. The Company initially operated as a supplier of mobile activities for hire. It focused on providing innovative ‘adrenaline’ activities and the product range included several unique ‘experiential’ activities including mobile high ropes, zip lines and climbing walls. The client base included event organisers for corporate days, scout camps and promotional campaigns. The Company established a reputation for innovative equipment and expertise in the outdoor events sector, attracting repeat bookings from blue chip clients (Bloomberg, BBC, Silverstone Circuit) and several international assignments. The company originally traded from the owners’ home, with equipment stored in premises near Whitchurch, Shropshire. In 2016 it moved to a purpose-built warehouse with a small office facility near Nantwich, which remained its trading base. A larger, modular office building was added to the Company’s operation in 2018.
The business was initially funded by loans provided by the shareholders. In 2017 further funds were invested from Mr Caldwell’s pension fund (EA Pension Scheme) which enabled the business to expand and double its capacity to deliver Bubble Rush events. Additional loans from the shareholders were invested in winter 2018 and again in 2019 to fund the development of a new event brand.
The owners are equal shareholders in the business. The owners both had previous senior management experience: Mr Caldwell had run a manufacturing company and served at board level until redundancy. Mrs Caldwell as a marketing communications director in the industrial services sector; with experience in brand development and experiential marketing campaigns. Between 2015 and 2019 the business diversified into providing ‘event packages’ for clients. These were complete ‘off-the-shelf packages whereby the Company provided the equipment (e.g. inflatable obstacles, stage, consumables) required to run a themed event, and offered additional support in the form of marketing assets. The event organiser was required to book the venue, market the event and sell tickets. The most popular event package was Bubble Rush — a family fun run featuring coloured foam stations. Between 2015 and 2019 the company ran over 100 events on behalf of various clients, all of whom were local hospice or hospital charities, and raising over £2 million annually for the charities. Similar event packages included a Superhero-themed inflatable obstacle course (KAPOW!) and a winter event (Frosty 5k).
Administrators' statement of proposals (2021-01-22) · Companies House register