# IG Interchange Group Ltd (07597518)

> Why UK company 07597518 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/07597518

- **Status:** Administration ended
- **Administration began:** 2015-04-01
- **Formerly:** Interchange Global Limited
- **Incorporated:** 2011-04-08
- **Location:** Sutton
- **Industry:** 62090 Other information technology service activities

## Why it went into administration

- Cash flow / liquidity pressure
- Loss of a key customer, supplier or contract
- Sustained trading losses

## From the administrators' statement

The company has ongoing recurring contract work of circa £700,000 per annum and “ad hoc” work of circa £300,000 per annum, however, due to the decline in turnover the company was suffering from cash flow difficultes and reached the point whereby it was unable to pay its liabilities as they fall due

The directors attribute the failure of the company to -

(a) Loss of Chesterfield contract for CSC (b) Loss of development work for Blackberry (c) Development costs of products not taken up

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/07597518/filing-history/MzEyMzA1NjUyNmFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/07597518

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.