Global Technology Resourcing Limited (07202640): administration
- Status
- Administration ended
- Administration began
- 2013-11-13
- Administrators
- Sean Williams, Philip Deyes
- Administrators' firm
- Leonard Curtis
- Formerly
- Quantum Vacuum Limited
- Incorporated
- 2010-03-25
- Location
- Manchester
- Industry
- 78109 Other activities of employment placement agencies
Why it went into administration
- Funding withdrawn / unable to refinance
- HMRC / tax arrears
- Sustained trading losses
From the administrators' statement
The Company traded as a recruiter of permanent professionals in the Information Technology sector across Europe and North America, whilst associated company Cloud Computing Consultants (International) Limited (“Cloud”) was a specialist recruiter supplying top-level professionals to companies in the cloud and virtualisation markets across Europe & North America The companies operated with separate invoice finance facilities both of which were provided by Aldermore tnvoice Finance (“Aldermore”) who also had the benefit of cross company guarantees In practical terms the Companies were one business, with shared premises and other “back office” services
Global was incorporated in March 2010 and began trading in December 2012 following the purchase of the business and assets of Resource Management International (Consultants) Limited (“RMI”) from the Joint Liquidators, Paul Whitwam and Gary Blackburn of BWC Business Solutions The directors, Stuart Hogg, Nicholas Phipps and Amar Bhanabhai, have advised that the assets purchased consisted of the work tn progress and a small amount of office furniture and that these assets were purchased for £20k Global also acquired the trading style RMI
A large value of credit notes, c£23k, were raised during August 2013 which resulted in the Aldermore facility being overpaid Aldermore were unwilling to provide additional funding whilst the facility was in an overpaid position
Administrators' statement of proposals (2013-12-31) · Companies House register