Ipicsi Limited (07438332): administration
- Status
- Administration ended
- Administration began
- 2013-10-17
- Incorporated
- 2010-11-12
- Location
- Norwich
- Industry
- 74100 specialised design activities
From the administrators' statement
The Company was incorporated on 12 November 2010 and has been based at premises in Cambridge trading as a specialist primarily in the design and development of computer chips The Company soon started to win contracts and the statutory accounts for the year ended 5 April 2012 show turnover of circa £425,000 In 2013 there was a major disagreement between the shareholders/directors (Mr Hulse, Mr McCubbin and Mr Pink) of the Company which reduced the available working capital and diverted management from running the business which left the Company in a
difficult position
in an attempt to settle the dispute a compromise was suggested but it was not clear that the Company was solvent and so the Company sought insolvency advice from
Administrators' statement of proposals (2013-11-14) · Companies House register