Psymplicity Ltd (07618606): administration
- Status
- Administration ended
- Administration began
- 2023-11-10
- Administrators
- Simon Matthew Gwinnutt, Nicholas Andrew Stratten
- Administrators' firm
- Greenfield Recovery
- Formerly
- Elixir IQ Ltd
- Incorporated
- 2011-05-03
- Location
- Birmingham
- Industry
- 86220 Specialists medical practice activities
Why it went into administration
- Creditor pressure / legal action
- Cash flow / liquidity pressure
- Funding withdrawn / unable to refinance
- Bad debts / customer insolvency
From the administrators' statement
Psymoplicity Ltd operates as a mental health services provider via a propriety internet platform. The business connects patients to mental health professionals for online and in-person consultations. The Company trades both remotely and from office premises located at Churchill House, 137 - 139 Brent Street, London, NW4 4DJ and employs approximately 49 employees. There are currently some £40,000 rental arrears at the office premises.
The Company suffered serious financial / cashflow problems. The director made a decision to seek advice from Greenfield Recovery Ltd and options available.
Initial introduction
Administrators' statement of proposals (2023-12-22) · Companies House register