Toatee Ltd (08116957): administration
- Status
- In administration
- Administration began
- 2023-03-31
- Administrators
- Kelly Mitchell, Alyson Richards
- Administrators' firm
- Quantuma
- Incorporated
- 2012-06-25
- Location
- Southampton
- Industry
- 14131 Manufacture of other men's outerwear
Why it went into administration
- Creditor pressure / legal action
From the administrators' statement
3.1 Quantuma Advisory Limited initially acted for sister company, Just Hype Ltd, under an advisory engagement to undertake an options review. The relationship between Just Hype Ltd and the Company was explored as part of that process but no formal advice was provided in respect of the Company.
3.2 Following this review, the strategy with Just Hype Ltd was to seek a sale of the business and assets via a pre packed Administration. Whilst no formal review of the Company was undertaken, it was envisaged by the directors that the Company could continue to trade and did not require advice.
3.3. The Company and Just Hype Ltd were funded by HSBC Bank Plc (“HSBC”). The directors opened discussions with HSBC with regard to the Group finances. HSBC were kept fully updated with the potential sale of assets in Just Hype Ltd.
Administrators' statement of proposals (2023-04-18) · Companies House register