Viral Effect Limited (07956563): administration
- Status
- In administration
- Administration began
- 2024-01-25
- Administrators
- Iain Townsend, Martyn James Pullin
- Administrators' firm
- FRP Advisory
- Incorporated
- 2012-02-20
- Location
- Stockton-on-Tees
- Industry
- 70229 Management consultancy activities other than financial management
Why it went into administration
- HMRC / tax arrears
- COVID-19
- Creditor pressure / legal action
From the administrators' statement
The Company was incorporated in February 2012 and operates as a digital marketing agency from leasehold premises in Middlesbrough. The Company director is James Pennington (the Director’) who also owns 50% of the share capital and is responsible for the day to day operations of its business. The remaining share capital is owned by Cresco CR Ltd (CCR). Mike Racz owns 100% of the issued share capital of CCR.
The Company predominantly provides its services to franchise businesses including Domino’s Pizza, Costa Coffee and Anytime Fitness.
Over the past 4 years, the Company has struggled to meet its commitments to HMRC, accumulating significant arrears on more than one occasion.
Administrators' statement of proposals (2024-02-22) · Companies House register