# MGR Realisations Limited (05974909)

> Why UK company 05974909 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/05974909

- **Status:** Administration ended
- **Administration began:** 2023-01-26
- **Administrators:** Matthew Mawhinney, Daniel Francis Butters
- **Administrators' firm:** Teneo
- **Formerly:** Matalan Group Limited; Missouri Pikco Limited
- **Incorporated:** 2006-10-23
- **Location:** Birmingham
- **Industry:** 64209 Activities of other holding companies n.e.c.

## Why it went into administration

- Funding withdrawn / unable to refinance

## From the administrators' statement

Since Jan-22, the Group (including the Company as guarantor) had been considering its options to refinance the 1L and 2L debt ahead of maturity in Jan-23 and Jan-24 respectively.

On 13-Jun-22, the 1L formed an AHG of three lenders (representing 53.7% of the 1L by value) and undertook negotiations with the Shareholder in respect of a number of structured solutions to secure a refinancing.

The Group and its advisors worked constructively with the 1L AHG and its advisors to agree a framework (“the Framework Agreement”) for recapitalisation of the Group which was signed on 23-Sept-22 and involved:

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/05974909/filing-history/MzM2ODE2NjA3MmFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/05974909

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.