Face Facts Consultants Ltd (08770041): administration
- Status
- Administration ended
- Administration began
- 2018-10-17
- Administrators
- Lee Van Lockwood, Robert Alexander Henry Maxwell
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2013-11-11
- Location
- Leeds
- Industry
- 73200 Market research and public opinion polling
Why it went into administration
- Bad debts / customer insolvency
From the administrators' statement
The Company was incorporated in November 2013 in order to acquire the business and assets of Face Facts Research Limited (“Research”). The Company and Research had a mutual director and shareholder, Alison White. Following the acquisition, the Company traded in a similar way to Research in the data collection sector, undertaking targeted research through a number of methods, including: surveys (online and face to face), in-store testing and postal research.
The director of the Company had begun to have less day to day involvement in the running of the business following the liquidation of Research in early 2014. She had focussed on business activities in the restaurant sector involving opening a café via Whites Deli Limited (“Whites”) and a chain of Indian street food restaurants via The Cat's Pyjamas Limited (“Cats”).
The expansion of Cat's was partly funded by loans that were taken out in the Company's name with the money being immediately transferred to Cat's. The Company had also provided a direct loan and acted as a guarantor for a number of large liabilities in excess of £500k.
Administrators' statement of proposals (2018-11-08) · Companies House register