Marlwood PLC (06676987): administration
- Status
- Administration ended
- Administration began
- 2012-01-27
- Administrators' firm
- Axiom Recovery
- Incorporated
- 2008-08-19
- Location
- London
- Industry
- 7415
Why it went into administration
- Cash flow / liquidity pressure
- Creditor pressure / legal action
- Over-expansion / investment not recovered
From the administrators' statement
The Company was incorporated in August 2008 and since incorporation operated as a holding company The Company had two subsidianes, the first a non trading company and the second The Licence Factory Limited (“The Licence Factory”) which was a trading company
The Licence Factory was acquired by the Company in September 2009 At this time the Company's shares were floated on the Cayman Isle Stock Exchange in order to raise funds to be invested in The Licence Factory Circa £1 2million was raised from this exercise albeit that the initial hope was that £4million could be raised
The Licence Factory traded throughout 2009 and continued to trade during 2010 However, The Licence Factory began to encounter cash flow problems during 2010 Consequently steps were taken in March and April 2011 to seek funding from the Company and invest these in The Licence Factory However the investment did not in fact materialise until December 2011
Administrators' statement of proposals (2012-03-29) · Companies House register