EC3 Brokers Limited (08735214): administration
- Status
- In administration
- Administration began
- 2022-11-25
- Administrators
- Anthony John Wright, David Paul Hudson
- Administrators' firm
- FRP Advisory
- Incorporated
- 2013-10-16
- Location
- London
- Industry
- 66220 Activities of insurance agents and brokers
Why it went into administration
- HMRC / tax arrears
- COVID-19
- Competition / price pressure
- Funding withdrawn / unable to refinance
- Creditor pressure / legal action
- Regulatory change or action
From the administrators' statement
The Company was incorporated on 16 October 2013 and began trading shortly after incorporation as an independent insurance broker. The Company was founded with two directors, Mr Christopher Giles and Mr Daniel Driscoll, to date only Mr Driscoll remains as an original director. The Company’s board had grown to four serving directors as at the date of administration.
EC3 traded from leasehold premises in the City of London, a short distance from Lloyd’s of London.
The Company was part of a wider group and was 100% owned by its parent EC3 Brokers Group Limited. In turn, the Company has a number of subsidiary companies including EC3 MEA, JEF3 and EC3 Europe. EC3 MEA and EC3 Europe were both reliant on EC3 to provide funding and management services. The Administrators have not been appointed over any of the subsidiary companies nor the parent company. The Group structure can be found at Appendix A.
Administrators' statement of proposals (2023-01-25) · Companies House register