Sabotage Limited (06786855): administration
- Status
- Administration ended
- Administration began
- 2012-02-02
- Administrators' firm
- BDO
- Formerly
- Cobco 898 Limited
- Incorporated
- 2009-01-09
- Location
- Liverpool
- Industry
- 82990 Other business support service activities n.e.c.
Why it went into administration
- Weak consumer demand
- Sustained trading losses
- Cash flow / liquidity pressure
From the administrators' statement
The Company was incorporated on 9 January 2009 as Cobco 898 Limited The Company had no employees and did not trade, being incorporated to facilitate the purchase of the entire shareholding in Fly by the incumbent management team The Company was therefore an intermediate investment holding company only Its ultimate parent company 1s Key Capital Partners (General Partner) Limited
Following the acquisition of Fly, the Company changed its name to Sabotage Limited. The Company raised finance through the issue of various loan note instruments secured by debentures and used this to fund the growth and development of Fly. At the time of Administration, an intercompany loan was due to the Company from Fly in the sum of £4 226 million
The only assets of the Company were therefore its investment tn Fly, the intercompany loan due, and also a lease in respect of premises occupied by Fly in Manchester. 2.5
Administrators' statement of proposals (2012-03-27) · Companies House register