Acil Realisations 2 Limited (07114545): administration
- Status
- In administration
- Administration began
- 2026-08-27
- Administrators
- Kevin Wall, Alastair Paul Beveridge
- Administrators' firm
- AlixPartners
- Formerly
- Airband Community Internet Limited
- Incorporated
- 2009-12-31
- Location
- London
- Industry
- 61200 Wireless telecommunications activities
Why it went into administration
- Sustained trading losses
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- Competition / price pressure
From the administrators' statement
Following a period of underperformance throughout 2022 and 2023, the Company requested further funding and flagged a potential covenant breach to its Lenders. The Company had been loss making for a number of years and reliant on continued support from the Sponsor.
Following a strategic review, in February 2024 the Group commenced a restructuring of the business to transition from a phase of rapidly building its network to a focus on commercialising the existing network.
Sponsor funding continued on a regular basis throughout 2025. Business performance improved over this period, with net customer additions and reducing losses, but failed to keep pace with the Company's budgets, and the business remained both loss making and cash consumptive.
Administrators' statement of proposals (2026-09-09) · Companies House register