Oysterworld Ltd (07662517): administration
- Status
- Administration ended
- Administration began
- 2016-08-22
- Administrators
- James Hopkirk, Andrew John Tate
- Administrators' firm
- Kreston Reeves
- Formerly
- Aeukgames Limited
- Incorporated
- 2011-06-08
- Location
- Chatham
- Industry
- 62011 Ready-made interactive leisure and entertainment software development
Why it went into administration
- Cash flow / liquidity pressure
- HMRC / tax arrears
- Bad debts / customer insolvency
From the administrators' statement
The company began to experience severe cash flow difficulties as a result of the company’s primary project, Pooka, being considerably behind schedule and the income stream from previous games titles being substantially reduced as the game lifecycles matured
According to the company’s directors, these cash flow difficulties were compounded by the following factors
The unsuccessful acquisition of Relentless and the additional cost burden that resulted, Difficulty in collecting book debts from clients,
Administrators' statement of proposals (2017-01-13) · Companies House register