I-Vapo Limited (08503934): administration
- Status
- Administration ended
- Administration began
- 2018-01-23
- Administrators' firm
- Quantuma
- Incorporated
- 2013-04-25
- Location
- Southampton
- Industry
- 47910 Retail sale via mail order houses or via Internet
Why it went into administration
- Creditor pressure / legal action
From the administrators' statement
3.1 Just prior to Christmas 2017 the Company received a warning letter from HM Revenue & Customs setting out that a winding-up petition would be issued within 7 days if payment of sums outstanding was not made. As a result and given that the Company was unable to offer any payment plan the directors were introduced to another firm of insolvency practitioners and a NOI was filed at Court on 22 December 2017 (and served on Davenham Asset Finance Limited (“DAFL”). The Company had no lending facilities in place that could be extended to meet the outstanding liabilities owed and the Directors had already invested significant funds personally to maintain operations. This firm was not introduced to the directors until 2 January 2018 and were formally instructed on 12 January 2018.
3.2 On 23 January 2018, Carl Jackson and Andrew Watling of Quantuma LLP were appointed Joint Administrators of the Company following the filing of a Notice of Appointment of Administrators by the Directors.
3.3 The Joint Administrators confirm that they are authorised to carry out all functions, duties and powers by either one or both of them.
Administrators' statement of proposals (2018-02-06) · Companies House register