Paintings Frames ETC Limited (07197049): administration
- Status
- Administration ended
- Administration began
- 2022-10-21
- Administrators
- Christopher Newell, Nicholas Simmonds
- Administrators' firm
- Quantuma
- Incorporated
- 2010-03-22
- Location
- Watford
- Industry
- 31090 Manufacture of other furniture
From the administrators' statement
3.1 As briefly detailed above, Nicholas Simmonds of Quantuma Advisory Limited was first approached by the Company in January 2022 and subsequently instructed instructed to help draft a Proposal for a Company Voluntary Arrangement (“CVA”) in June 2022. Whilst in the process of putting together the Proposals, including assessing the viability of the Company being able to continue to trade and producing an estimate outcome to creditors, the Company’s financial circumstances changed which meant that a CVA was no longer a viable option. The Company’s access to continued cash flow and working capital was halted towards the end of July 2022 and it was unable to continue trading. It was concluded that the business had been impacted to such an
3.2
3.3
Administrators' statement of proposals (2022-12-19) · Companies House register