Coino UK Ltd. (08691499): administration
- Status
- Administration ended
- Administration began
- 2021-10-06
- Administrators
- Philip Reynolds, Ian James Corfield
- Administrators' firm
- FRP Advisory
- Incorporated
- 2013-09-16
- Location
- London
- Industry
- 96090 Other service activities n.e.c.
Why it went into administration
- COVID-19
- Property / lease costs
- Weak consumer demand
- HMRC / tax arrears
From the administrators' statement
The Group was established in September 2013, following the incorporation of Coino, and specialised in the provision of automated foreign exchange solutions in the form of electronic kiosks predominately located in high footfall travel and tourist hubs such as airports and train stations.
Coino held the vast majority of the Group’s physical assets and undertook the operations associated with the manufacture, repair and maintenance of the kiosk, including facilities management. Coino’s subsidiary, Fourex, facilitated the Group's foreign exchange operations, with its sole activity being the conversion of currency within the kiosks.
Fourex traded under an anti-money laundering registration supervised by HMRC which is a requirement to undertake foreign exchange activities.
Administrators' statement of proposals (2021-12-02) · Companies House register