Infinite Security Ltd (08519764): administration
- Status
- Administration ended
- Administration began
- 2018-09-18
- Administrators
- Marco Piacquadio, Huw Powell
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2013-05-08
- Location
- Cardiff
- Industry
- 80200 Security systems service activities
Why it went into administration
- Funding withdrawn / unable to refinance
- Creditor pressure / legal action
From the administrators' statement
The Company was incorporated on 8 May 2013 and carried on business as a supplier of security system products. The Company traded from rented premises at Units 28 and 141 Devonshire Business Centre, Works Road, Letchworth Garden City and traded with customers throughout the UK.
The Company was initially funded with assistance from Bibby Financial Services Ltd who provided a debt financing facility.
The Company's accounts indicate that it traded with reasonable success until early 2018 when it began to face financial difficulties. This included pressure on sales levels and cash flow, which resulted in the Company refinancing to ArchOver in May 2018. After reviewing expenditure the director attempted to ease pressure by reducing staffing numbers.
Administrators' statement of proposals (2018-11-07) · Companies House register