Inspiral Visionary Products Ltd (07834482): administration
- Status
- Administration ended
- Administration began
- 2018-08-06
- Administrators
- James Sleight, Peter Hart, Oliver Collinge
- Administrators' firm
- PKF
- Incorporated
- 2011-11-03
- Location
- One Park Row
- Industry
- 10890 Manufacture of other food products n.e.c.
Why it went into administration
- Property / lease costs
- Creditor pressure / legal action
- Competition / price pressure
From the administrators' statement
3.1 James Sleight and Peter Hart, two of the subsequent Joint Administrators first met Dominik Schnell, the Company’s Managing Director, on 14 June 2018. The Company’s financial circumstances were discussed at length and Messrs Sleight and Hart subsequently provided written advice to Mr Schnell setting out the Company’s options, given its financial position.
3.2 After further meetings and telephone discussions Mr Schnell formally instructed this firm to commence an accelerated marketing of the business and assets with a view to achieving a going concern sale of the company via a_ pre-pack administration Pursuant to Schedule B1 of the insofvency Act 1986
3.3. Marketing materials were prepared and an anonymous teaser document providing high level details of the opportunity was issued to more than 160 recipients on 26 June 2018. These were a mix of competitors, operators in related markets and professionals who were considered to have clients who may be interested in acquiring the business.
Administrators' statement of proposals (2018-11-21) · Companies House register