Mi-Space (UK) Limited (06280106): administration and why it failed

Mi-Space (UK) Limited (06280106): administration

Status: Administration ended
Administration began: 2022-02-08
Administrators: Richard Michael Hawes, Matthew David Smith
Administrators' firm: Teneo
Incorporated: 2007-06-14
Location: Birmingham
Industry: 41202 Construction of domestic buildings

Why it went into administration

COVID-19
Sustained trading losses
Supply chain disruption
Funding withdrawn / unable to refinance
Rising costs / inflation
Cash flow / liquidity pressure
Parent or group failure
Loss-making contracts / project overruns

From the administrators' statement

The Group

MGL and its subsidiaries (the Group) provided a complete range of construction related services:

• Asamain contractor, it delivered a diverse range of projects, including refurbishments & fit outs, construction & development, interior & retail schemes as well as property development & energy solutions.

Administrators' statement of proposals (2022-02-22) · Companies House register

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