Completetv Holdings Limited (06161961): administration
- Status
- Administration ended
- Administration began
- 2011-06-03
- Administrators
- Patrick Bernard Harrington
- Formerly
- Completetv Limited; Complete TV Limited
- Incorporated
- 2007-03-15
- Location
- Swindon
- Industry
- 3230
Why it went into administration
- Funding withdrawn / unable to refinance
- Loss of a key customer, supplier or contract
From the administrators' statement
Home Media Systems Limited was incorporated in 2004 and shortly afterwards changed its name to Complete Media Systems Ltd (“CMS”) CMS had been incorporated with the purpose of developing, manufacturing and selling television settop boxes which would allow users to access a wide range of media, including video on demand The intention was that these set-top boxes could be used in the UK instead of a Sky set-top box and would allow users to access Sky TV and a range of other media
Over the years, CMS and its parent (CTV) have raised around £7 million in equity from various venture capitalists and private investors Those funds were absorbed in the development of the product and the establishment of a manufacturing facility in Hong Kong Despite its intended versatility, or possibly because of tt, the product had to be adjusted to meet the requirements of each customer This was not perceived as a major drawback because the company was targeting major customers whose
orders would be for hundreds of thousands of units
Administrators' statement of proposals (2011-07-20) · Companies House register