Mettrr Technologies Limited (07439429): administration
- Status
- Administration ended
- Administration began
- 2023-03-31
- Administrators
- Cameron Gunn, Christopher James Farrington
- Administrators' firm
- ReSolve
- Formerly
- The Sole Trader Business Group Limited; Getsitetracked.Com Limited
- Incorporated
- 2010-11-15
- Location
- London
- Industry
- 74909 Other professional, scientific and technical activities n.e.c.
Why it went into administration
- Competition / price pressure
- COVID-19
- Funding withdrawn / unable to refinance
- HMRC / tax arrears
- Loss of a key customer, supplier or contract
- Sustained trading losses
From the administrators' statement
Background (provided by the Company’s Chairman, Mr Colin Hill)
The Company was incorporated in November 2010 by Sebastian Lewis under the name Getsitetracked.com Limited. The Company was later renamed to The Sole Trader Business Group Limited in 2013 and finally to Mettrr Technologies Limited in 2016. The previous names of the Company reflected the burgeoning impact of the internet in the 2010s and its use as a marketing channel for companies to promote services using its website.
Initially, the Company was funded by Sebastian Lewis and his family, and over the next five years, it raised equity via crowdfunding. The target market of the Company was sole traders and micro-SMEs. As an earlystage development enterprise, the Company relied on external financing to meet its needs and managed to gain working capital from various sources including revenues generated from the website business, HMRC Tax credits, as well as secured and unsecured loans.
Administrators' statement of proposals (2023-06-01) · Companies House register