Shore Projects Limited (08528648): administration
- Status
- Administration ended
- Administration began
- 2016-04-15
- Administrators' firm
- Opus Restructuring
- Formerly
- Company AG Limited
- Incorporated
- 2013-05-14
- Location
- Milton Keynes
- Industry
- 26520 Manufacture of watches and clocks
Why it went into administration
- Supply chain disruption
- Sustained trading losses
- Competition / price pressure
From the administrators' statement
Shore Projects Limited (hereinafter referred to as “the Company") was incorporated on 14 May 2013 The Company operated as a retailer and wholesaler of watches
The Company was a concept conceived in 2013 The initial idea was created by Neil Waller, James Street and Jonathan Holt Mr Holt had a marketing business and Mr Street and Mr Waller were from an online background with access to developers Throughout 2013 the directors began getting watch samples, designing the website and getting ready to launch Shore Projects
The directors set up the shareholder agreement in April 2014 Any venture that Mr Holt undertook also had to have the same shareholding structure as his marketing business, which meant the other two directors gave 50% of the company to Mr Holt and his investors Mr Street and Mr Waller took 50% of the business between them The directors set out to raise £25,000 and all invested under SEIS as they all owned under 30% equity in the business
Administrators' statement of proposals (2016-05-31) · Companies House register