Titan Reality Ltd (07832876): administration
- Status
- Administration ended
- Administration began
- 2022-02-07
- Administrators' firm
- Begbies Traynor
- Formerly
- Soundisplay Limited
- Incorporated
- 2011-11-02
- Location
- Northampton
- Industry
- 32200 Manufacture of musical instruments
Why it went into administration
- Cash flow / liquidity pressure
- HMRC / tax arrears
- Bad debts / customer insolvency
- Competition / price pressure
- Weather / natural events
From the administrators' statement
Begbies Traynor (Central) LLP were contacted directly by the Company's director to provide formal advice on the Company’s financial position. Constantinos Pedhiou first met with Bertrand Arnold on 8 September 2021. During the course of this meeting and as a result of the background and financial information disclosed by Mr Arnold, it was apparent that without ongoing support from its shareholders, the Company did not have sufficient funds available to it or any parties willing to provide further investment, which would have enabled it to pay alll liabilities as and when they fell due
We were advised that the Company was incorporated on 02 November 2011 by Bertrand Arnold and Helen Benarrosh. The original shareholders of the Company were Bertrand Arnold and Helen Benarrosh.
In October 2021 Guillaume Clignet was appointed as the 3% director of the Company. From 2017 onwards financial investment was received from Broadway Ventures Limited (BVL) the Company originally agreed to grant 25% shareholding in exchange for an investment of £1m, however as the full amount was never received in total only 20% shareholding was transferred to BVL. The shareholding was increased to 2,921,586. The shareholders of the Company were now Bertrand Arnold, Helen Benarrosh, Universal Music Leisure Limited and BVL
Administrators' statement of proposals (2022-04-05) · Companies House register