Trinity ICT Limited (07933225): administration
- Status
- Administration ended
- Administration began
- 2018-01-02
- Administrators
- Michelle Louise Chatterton, Charles Michael Brook
- Administrators' firm
- Liverwire Partners
- Incorporated
- 2012-02-02
- Location
- Huddersfield
- Industry
- 62090 Other information technology service activities
From the administrators' statement
Charles Brook, a Licensed Insolvency Practitioner and Partner at Poppleton & Appleby first met with the directors of the Company in January 2017. No formal instruction was made at that time, and the Directors contacted Charles Brook again in August 2017. At this time the options for the Company were reviewed with the directors however again no formal instruction was made as the directors believed that the shareholders would continue to provide the investment necessary to enable the Company to develop its business and trade forward sustainably.
The directors contacted Charles Brook again in December 2017 as it had become apparent that the shareholders were not unified in their desire to continue supporting the Company’s continued trading.
At the time of the Joint Administrators initia! instruction the Company was likely to become insolvent on a cash flow basis following the withdrawal of financial support from its shareholders. The nature of the Company's business meant that it had to discharge its liabilities to its trade creditors as they arose. The live delivery of the Company's services to its clients required third party telecoms, IT and internet facilities that were under the control of those creditors and arrears were not allowed to accrue. In addition the withdrawal of any further investment by the shareholders impacted on the Company's ability to fund future development projects required to enable the Company to trade forward sustainably and with any prospect of achieving profitability.
Administrators' statement of proposals (2018-02-02) · Companies House register