Idaq Networks Limited (06422644): administration
- Status
- Administration ended
- Administration began
- 2023-01-20
- Administrators
- Sean Williams, Richard Pinder
- Administrators' firm
- Leonard Curtis
- Incorporated
- 2007-11-08
- Location
- Leeds
- Industry
- 62090 Other information technology service activities
Why it went into administration
- Creditor pressure / legal action
- COVID-19
- Cash flow / liquidity pressure
- Weak consumer demand
- HMRC / tax arrears
From the administrators' statement
3.1 Following the completion of the pre-packaged sale of the Company's business and assets, the Joint Administrators have prepared a letter to creditors to provide further information on the sale pursuant to the requirements of the Statement of Insolvency Practice (“SIP”) 16. A copy of the letter is attached at Appendix M of this report.
3.2 The Joint Administrators would like to draw your attention to Section 2 of the SIP16 report, which provides background information regarding the Company and events leading up to the Joint Administrators’ appointment.
3.3 As set out in the SIP16 report, the Company provided wireless network services via a Company owned radio mast/transmitter network. As a result of the Covid-19 pandemicl, the Company was unable to deliver on its contractual obligations and as a result fewer installations were delivered than expected and reduced demand for the services.
Administrators' statement of proposals (2023-02-10) · Companies House register