# Oysterworld Ltd (07662517)

> Why UK company 07662517 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/07662517

- **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,

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/07662517/filing-history/MzE2NjYzNjM4OGFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/07662517

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