Virtual Business Operation Services Limited (08053101): administration
- Status
- In administration
- Administration began
- 2023-07-21
- Administrators
- Jonathan Charles Marston, Sarah Elizabeth Collins
- Administrators' firm
- Alvarez & Marsal
- Incorporated
- 2012-05-01
- Location
- Brighton
- Industry
- 82990 Other business support service activities n.e.c.
Why it went into administration
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
From the administrators' statement
The Company was incorporated on 1 May 2012 and is a wholly owned subsidiary of Vertical Financial Services Limited (“VFSL’). The Company provided operating services to VFS and LFL. VFS and LFL were specialist funders providing finance to law firms in the personal injury (“PI”) claim market using a receivables purchase model.
The Company operated from the trading address Kingfisher House, 21-23 Elmfield Road, Bromley, Kent, BR1 1LT (“Bromley Head Office”). At the date of administration, the Company had 16 employees, who were either based in the Bromley Head Office or undertook activities on a work from home basis.
Funding and financial position of the Company
Administrators' statement of proposals (2023-09-23) · Companies House register