# Bourne Asset Management Ltd (08623817)

> Why UK company 08623817 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/08623817

- **Status:** Administration ended
- **Administration began:** 2023-07-14
- **Administrators' firm:** Leonard Curtis
- **Formerly:** Bourne Assets Limited; Platinum Asset Management Limited
- **Incorporated:** 2013-07-25
- **Location:** Fareham
- **Industry:** 70229 Management consultancy activities other than financial management

## Why it went into administration

- Funding withdrawn / unable to refinance
- Creditor pressure / legal action
- Rising interest rates
- Property / lease costs
- COVID-19
- Weak consumer demand
- Energy costs
- Cash flow / liquidity pressure
- HMRC / tax arrears
- Brexit

## From the administrators' statement

Bourne Asset Management Limited (BAM) is a wholly owned subsidiary of CHX.Life Limited. CHX was placed into administration on 17" November 2022 with Michael Fortune and Stewart Goldsmith, both of Leonard Curtis, being appointed as joint administrators.

BAM held 100% of the shares in five key property holding companies, further details in respect of the subsidiaries are provided later in this report.

CHX and BAM were both part funded by way of a private investors providing term loans which attracted interest. These funds were used for a variety of reasons including to purchase investment properties, redevelop sites and provide working capital within the subsidiaries, creating intercompany loan accounts across the group. The group was also funded by way of secured lending with security provided over the investment properties held in the subsidiary companies.

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/08623817/filing-history/MzM5MTkxMDEyNGFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/08623817

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.