Secus Ltd (06106544): administration
- Status
- Administration ended
- Administration began
- 2014-06-27
- Administrators
- Dean Anthony Nelson
- Administrators' firm
- Smith Cooper
- Formerly
- Sucus Ltd
- Incorporated
- 2007-02-15
- Location
- Derby
- Industry
- 64999 Financial intermediation not elsewhere classified
Why it went into administration
- HMRC / tax arrears
- Property / lease costs
- Sustained trading losses
- Cash flow / liquidity pressure
From the administrators' statement
Please note that the Company history has been prepared by David Edden, a director, and the Admunistrator accepts no personal lability in respect of its contents
Secus Limited (“the Company” or “Secus”) was mcorporated on 15 February 2007 with a view to offering meter reading services to British Gas Business (‘BGB’) The Company incorporated with 4 equal shareholders and directors namely David Edden, David Shelmerdine, and their respective partners, who took only a limited role in the daily operations of the business
Secus traded for the next 12 months until the fixed term contract with BGB lapsed and was not subsequently renewed Consequently, managing director, Mr Edden, commenced marketing the business to other energy providers, securing rolling contracts with some of the ‘big six’ companies such as NPower and Scottish Power The Company grew rapidly from 2010 to 2013, and diversified into the debt collection market, becoming one of the few companies 1n the industry offering metering services followed by subsequent collection of arrears The continual growth resulted in the Company moving from leased premises on three occasions mn order to accommodate the mcreasmg number of employees, which peaked at c 40 staff members
Administrators' statement of proposals (2014-08-28) · Companies House register