Andromeda Enterprises Limited (07252691): administration
- Status
- Administration ended
- Administration began
- 2023-10-20
- Administrators
- Benjamin Neil Jones, Arvindar Jit Singh
- Administrators' firm
- FRP Advisory
- Incorporated
- 2010-05-13
- Location
- Birmingham
- Industry
- 62012 Business and domestic software development
Why it went into administration
- Supply chain disruption
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- Sustained trading losses
From the administrators' statement
The Company was incorporated on 13 May 2010, having been established to deliver data services for corporate businesses wanting to understand the environmental impacts of their supply chains. Its software could be accessed by any clients to create free profiles and then to pay for the functionality of the Company’s Ecodesk system to allow clients to invite their suppliers to disclose their information on Ecodesk.
This business model continued through to 2015 but on a loss-making basis despite the Company experiencing climbing revenues and winning some high-profile clients.
In 2016, the Company was engaged by the World Business Council for Sustainable Development to develop a new software platform for the tracking and compiling of global ESG reporting standards, leading to the launch of the Company’s Reporting Exchange in November 2017.
Administrators' statement of proposals (2023-12-13) · Companies House register