The Miracle Chair Company Ltd (08086051): administration
- Status
- Administration ended
- Administration began
- 2015-06-16
- Incorporated
- 2012-05-28
- Location
- Leeds
- Industry
- 32990 Other manufacturing n.e.c.
From the administrators' statement
The Miracle Chair Company Limited (“MCC”) was originally incorporated and commenced trading in May 2012 to operate as the manufacturing and tradmg company in respect of the Freedman Chair. Simon Freedman, a qualified and practicing Osteopath, developed over a period of 15 years, an office chair designed to both alleviate and prevent the pain associated with prolonged pertods of sitting
In June 2011 Mr Freedman incorporated Freedman Seats Limited (“FS”) and through that company the patent applications were registered for the Freedman Seat. The continued development of the seat was then carried out by MCC and ultimately in 2014 an [rrecoverable Technology Licence Agreement was entered into between FS and MCC together with various funders through which MCC was licenced to utilise the Intellectual Property Rughts of FS and to market and sell the seat
During 2013 and 2014 funding had been ratsed through private investment from Hugh Briggs, Emma Freedman and Sumon Freedman. Additionally, further funds were raised through a Kickstarter Scheme and finally through Venture Founders. Ultumately, Hugh Briggs is owed £250,000 which 1s secured by way of a fixed and floating charge created on 4" July 2014 and registered on 23™ July 2014 Emma and Simon Freedman are due £80,000, £340,000 was raised from individuals through Kickstarter and £670,000 1s due to Venture Founders
Administrators' statement of proposals (2015-08-27) · Companies House register