Prescription Direct Ltd (07519168): administration
- Status
- Administration ended
- Administration began
- 2013-01-08
- Administrators
- Lisa Jane Hogg, Gemma Louise Roberts
- Administrators' firm
- Wilson Field
- Incorporated
- 2011-02-07
- Location
- Sheffield
- Industry
- 70229 Management consultancy activities other than financial management
Why it went into administration
- Funding withdrawn / unable to refinance
- Creditor pressure / legal action
From the administrators' statement
The Company was incorporated on 07 February 2011 and commenced trading in February 2011 from rented premises at Unit 3, The Business Centre, Corinium Industrial Estate, Raans Road, Amersham, HP6 6FB The Company's principle activity was that of online retail of prescription and nonprescription glasses
The Company began trading successfully and had strong financial backing from Bradenham Partners LLP (‘the Funders”) who were also shareholders of the Company
In October 2012, the Funders decided to withdraw their financial support and at that point had invested approximately £555,000 in to the development of the business It was agreed between the director and the Funders that the investment debt would be written off and the director would purchase the Funders shares for £1.
Administrators' statement of proposals (2013-03-06) · Companies House register