Focused Security Services Ltd (08139698): administration
- Status
- Administration ended
- Administration began
- 2019-08-09
- Administrators
- Mark Elijah Thomas Bowen
- Administrators' firm
- PwC
- Incorporated
- 2012-07-11
- Location
- Droitwich
- Industry
- 80100 Private security activities
Why it went into administration
- HMRC / tax arrears
- Creditor pressure / legal action
From the administrators' statement
3.1 MB Insolvency were introduced to the Director via the Company's accountants, MCA Group, and a meeting was held on 15 July 2019 to help advise on the generic options available to the Company as it was deemed to be insolvent. The Director advised that the company was under significant pressure from HMRC and there was a threat of winding up petition.
3.2 As detailed in the attached SIP 16 statement to creditors, this meeting led to an initial offer being received from FSG (connected by way of common director) for the business and assets on 23 July 2019.
3.3 A signed engagement letter was received from the directors of the Company on 30 July 2019 and a notice of intention to appoint an Administrator was filed on the same day. Freeths LLP were instructed to act in respect of the appointment and notice was serviced on PCF and Lloyds Commercial Finance as qualifying floating charge holders. The charge held by PCF was created on 30 July 2019 and Lloyds were repaid in full on the same day. Lloyds’ charge is however not yet showing as satisfied on Companies House.
Administrators' statement of proposals (2019-10-07) · Companies House register