# Release Money Group (RMG) Limited (07154076)

> Why UK company 07154076 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/07154076

- **Status:** Administration ended
- **Administration began:** 2016-07-13
- **Administrators:** David Michael Clements, Paul Robert Boyle, Philip Edward Pierce, Ben Woolrych
- **Administrators' firm:** FRP Advisory
- **Incorporated:** 2010-02-11
- **Location:** Manchester
- **Industry:** 64205 Activities of financial services holding companies

## Why it went into administration

- Cash flow / liquidity pressure
- Sustained trading losses
- Regulatory change or action

## From the administrators' statement

The Company was incorporated on 11 February 2010 and traded from a leased premises at Silverpoint, Moor Street, Bury, Lancashire, BL9 5AQ employing approximately 16 members of staff including the senior management team.

The Company was the ultimate parent Company of the following Subsidiaries:

DRD sources, converts and presides over a portfolio of debt management plans in England and Wales and ts currently trading under an interim licence for debt advisory services with the FCA.

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/07154076/filing-history/MzE1NzI1NTQ4NmFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/07154076

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.