Kmera Limited (08203674): administration
- Status
- Administration ended
- Administration began
- 2018-10-29
- Administrators
- Christopher David Horner
- Administrators' firm
- Robson Scott Associates
- Incorporated
- 2012-09-06
- Location
- Darlington
- Industry
- 11070 Manufacture of soft drinks; production of mineral waters and other bottled waters
Why it went into administration
- Creditor pressure / legal action
- Competition / price pressure
From the administrators' statement
The company was formed in September 2012 with the intention to produce and sell vitamin rich health drinks. The company took inspiration from an expired patent from a competitor enclosing vitamin pods inside seaweed bubbles within the drinks. The company actively started trading in 2014 under the brand Jools Drinks and trademarked Oob as the product. The manufacturing of the product was carried out by a third party in the Czech Republic and the finish product was retailed through supermarkets in the UK and France.
The trading aspect of the company had ceased in 2016 and only development activities have taken place in the interim period. In this time period further investment was sought in order to recommence trading, however this could not be obtained. By this time a series of loan notes were already past due, legal action was commenced to recover these funds, with one creditor obtaining an interim third party debt order. With other creditors also threatening legal action the board took the decision to place the company into administration.
Prior to the commencement of the Administration Robson Scott Associates Ltd acted as advisors to the Board as a whole acting on behalf of the Company. No advice was given to the individual directors regarding the impact of the insolvency of the company on their personal financial affairs. Whilst not formally in office at that time, Robson Scott Associates Ltd was still required to act in its dealings with the Company in accordance with the Insolvency Code of Ethics. The only other activity carried out prior to my appointment was consideration as to the marketing strategy for the assets of the company.
Administrators' statement of proposals (2018-12-31) · Companies House register