Choongadunga Limited (08786124): administration
- Status
- Administration ended
- Administration began
- 2023-09-12
- Administrators
- Stephen Berry, Jason Dean Greenhalgh
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2013-11-21
- Location
- Liverpool
- Industry
- 96090 Other service activities n.e.c.
Why it went into administration
- Cash flow / liquidity pressure
From the administrators' statement
The sole purpose of the Company was to purchase properties and gold investments.
The main revenue stream was provided by the director Jordon Ibe from image rights and sponsorship deals which were paid quarterly. The director is a professional football player.
A property was purchased, and investments made. The property was rented out to a tenant in 2017. Income into the Company was sporadic, and gold had been sold to inject cash into the business due to loss of higher earnings and lower income stream from the director.
Administrators' statement of proposals (2023-11-08) · Companies House register