Aviation and Tech Capital Ltd (07940046): administration
- Status
- In administration
- Administration began
- 2024-01-15
- Administrators
- Brian Burke, Andrew Lawrence Hosking, Sean Bucknall
- Administrators' firm
- Quantuma
- Formerly
- Ecogii Energy Labs Limited
- Incorporated
- 2012-02-07
- Location
- London
- Industry
- 64999 Financial intermediation not elsewhere classified
Why it went into administration
- Regulatory change or action
- COVID-19
- Cash flow / liquidity pressure
- Creditor pressure / legal action
- Property / lease costs
- Rising interest rates
From the administrators' statement
In July 2022 the companies announced their intention to wind down their respective operations in relation to new loans, and since this date no new loans have been made available through the platform and its secondary loan market was suspended.
3.2
The directors took this decision collectively because they considered that the business model was no longer financially viable due to a number of factors, including: the challenging economic environment for small businesses, the ongoing impact of the pandemic, rising interest rates, difficulties encountered with non-performing loans, and expected regulatory reforms affecting peer-to-peer platforms.
Administrators' statement of proposals (2024-03-15) · Companies House register