Jemm Media Ltd (06053707): administration
- Status
- Administration ended
- Administration began
- 2014-06-05
- Administrators' firm
- RNF Business Advisory
- Incorporated
- 2007-01-16
- Location
- Maidstone
- Industry
- 62090 Other information technology service activities
Why it went into administration
- Loss of a key customer, supplier or contract
- Property / lease costs
From the administrators' statement
Jemm Media Limited was incorporated on 16 January 2007 by Matthew John Whaley (“Matt”) and James Taylor (“James”)
Matt and James had worked together at UK Net Guide who are a Publisher in the Internet Marketing arena Matt was the Sales and Development Director and James was the CFO Matt had decided that he wanted to “go it” alone and set up a display advertising network as he felt he could do it better than a lot of other companies out there
James agreed to loan the business £8,000 as a silent (but active in the background) partner to give the business a kick-start. As time went on James was less able to commit in assisting with the growth of the business and also he did not have any further funds to help progress the business The business at this time was based in Richmond in serviced offices, which is where Matt met Carmelo Stamato Carmelo and Matt would discuss general everyday matters and Carmelo showed an interest in buying out James and becoming joint partners with Matt Carmelo and Alexander Cruickshank (“Alex”) offered to loan the business money and offer financial and administrative support in the infancy years for a 50% equity share (25% each) in the business Therefore at this time the company was reformed, with the directors of the company being Matt, Carmelo, Alex and Joanne Whaley, Matt's wife, each holding a 25% share in the Company
Administrators' statement of proposals (2014-07-21) · Companies House register