Lockwood Designs Limited (08257027): administration
- Status
- Administration ended
- Administration began
- 2024-07-29
- Administrators' firm
- Leonard Curtis
- Incorporated
- 2012-10-17
- Location
- Bristol
- Industry
- 46180 Agents specialised in the sale of other particular products
Why it went into administration
- Regulatory change or action
From the administrators' statement
For a summary of the Company’s historical background please refer to paragraphs 3.6 to 3.10 of the Joint Administrators’ Statement of Insolvency Practice 16 (“SIP 16”) disclosure which is attached at Appendix K.
As aresult of the Company’s financial position, Leonard Curtis were formally instructed by the directors on 24 June 2024 to assist with placing the Company into administration. It was determined that initiating a suitable accelerated marketing process to explore the possibility of selling all of part of the Company’s business and assets through a pre-packaged sale was the most appropriate course of action in order to maximise potential realisations for creditors.
Following a period of marketing and discussions with interested parties, a suitable offer to purchase the Company’s business and assets was received (see Appendix K for full details) and the Company filed a Notice of Appointment of an Administrator in the High Court of Justice, Business and Property Courts in Bristol on 29 July 2024 to enable contractual sale formalities to be finalised by the Joint Administrators. As the Company is regulated by the Financial Conduct Authority (“FCA”), consent to the proceedings was sought and obtained from the FCA prior to the administration appointment.
Administrators' statement of proposals (2024-08-05) · Companies House register