# T Dispatch Limited (08010175)

> Why UK company 08010175 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/08010175

- **Status:** Administration ended
- **Administration began:** 2017-04-04
- **Administrators:** Kevin Anthony Murphy, Jason Paul Maloney
- **Administrators' firm:** Insolvency Practitioners of CVR Global
- **Incorporated:** 2012-03-28
- **Location:** London
- **Industry:** 82990 Other business support service activities n.e.c.

## From the administrators' statement

3.1 The Company was initially funded through investments made to it by third party investors in exchange for a shareholding interest. Accordingly from time to time further funding was required.

3.2 The Company acquired a new investor in mid-2016 based in Turkey who planned to invest a substantial amount into the Company before the end of 2016. This investment was agreed as two tranches of payments in June 2016 and October 2016. Prior to making the investments, the investor required authorisation from an internal committee. Unfortunately, due to the political situation in Turkey at the time the first instalment was due, the investor was unable to obtain the required committee approval to enable a payment to be made in June 2016.

3.3 Due to the delay in receiving the investment, the Company had to undertake cost cutting measures to allow the business to continue to trade until the investment was received. This reduction in costs meant that the business was unable to complete all of the software customisation requests received from new customers, leading to a backlog. The first instalment was eventually received in October 2016, however it was agreed with the investor that, due to the backlog of customisation requests, the second instalment would be paid by December 2016.

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/08010175/filing-history/MzE3NzY5MTQzOWFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/08010175

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.