Interiors Realisations Ltd (07223554): administration
- Status
- In administration
- Administration began
- 2024-02-23
- Administrators
- Richard Cole, Steve Kenny
- Administrators' firm
- KBL Advisory
- Formerly
- Design House Interiors Limited
- Incorporated
- 2010-04-14
- Location
- Sale
- Industry
- 43999 Other specialised construction activities n.e.c.
Why it went into administration
- HMRC / tax arrears
- Cash flow / liquidity pressure
From the administrators' statement
3.1 KBL Advisory Limited were initially approached by the Company’s Directors on 4 January 2024 to help advise on the options available for the Company as there were concerns over the Company’s solvency evidenced by being unable to pay its debts as when then fell due. This was evidenced by the HMRC arrears.
3.2 Options that were considered by the Directors and KBL Advisory Limited are explained in detail in the SIP16 statement at Appendix V.
3.3 A pre-pack administration was considered to be the most appropriate course of action and the directors therefore proceeded to formally engage KBL Advisory Limited to assist with this process on 26 January 2024. During the period between the initial meeting with representatives from KBL Advisory on 4 January 2024 and formal engagement on 26 January 2024, the Directors had been in dialogue with HMRC with a view to reinstatement of the cancelled TTP which was ultimately unsuccessful.
Administrators' statement of proposals (2024-04-26) · Companies House register