ATN Bangla UK Limited (05958633): administration
- Status
- Administration ended
- Administration began
- 2023-08-18
- Administrators
- Christopher Newell, Nicholas Simmonds
- Administrators' firm
- Quantuma
- Incorporated
- 2006-10-06
- Location
- Watford
- Industry
- 60200 Television programming and broadcasting activities
Why it went into administration
- Cash flow / liquidity pressure
From the administrators' statement
Quantuma Advisory Limited were first approached by the Company on 18 January 2023 and subsequently instructed on 1 February 2023.
Following a review of the financial position together with various discussions with the Director 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 (2023-10-20) · Companies House register