Verve Personnel Limited (06479326): administration
- Status
- In administration
- Administration began
- 2024-06-24
- Administrators
- Lisa Marie Moxon, Christopher Benjamin Barrett
- Administrators' firm
- of Dow Schofield Watts Business Recovery
- Formerly
- Bluetoucan Limited
- Incorporated
- 2008-01-21
- Location
- Warrington
- Industry
- 78200 Temporary employment agency activities
Why it went into administration
- Cash flow / liquidity pressure
- Loss of key people
From the administrators' statement
The Company was incorporated on 21 January 2008 as a recruitment agency providing temporary staff to large corporate clients. The head office was based in Manchester with numerous satellite offices located around the UK. The business provided specialist support to the aviation, hospitality and facilities management sectors offering a streamlined, efficient, and cost-effective service matching candidates to appropriate roles.
The Company grew significantly in recent years, with turnover of £2.2m being achieved for the year ending 31 December 2020 increasing to £4.9m for the year ended 31 December 2021.
In 2022 the Board sought to increase revenue further by expanding into new sectors including aviation. Asa result, there was a large growth in turnover to £8.8m for the year ended 31 December 2022. However, despite the increase in turnover the Company achieved a reduced profit of £95k for the year ended 31 December 2022 compared to the prior financial year profit of £331k. This was primarily due to the new sectors not been as profitable as initially anticipated.
Administrators' statement of proposals (2024-08-21) · Companies House register