The Miles Partnership Limited (08863410): administration
- Status
- Administration ended
- Administration began
- 2019-04-12
- Administrators' firm
- FRP Advisory
- Formerly
- Miles Management Holdings Limited
- Incorporated
- 2014-01-27
- Location
- Leeds
- Industry
- 96090 Other service activities n.e.c.
Why it went into administration
- HMRC / tax arrears
- Creditor pressure / legal action
- Funding withdrawn / unable to refinance
- Competition / price pressure
From the administrators' statement
The Company traded as an executive and board level recruitment specialist, providing recruitment services and candidate sourcing for many “blue chip” organisations based both in the UK and internationally.
The Administrators understand that the business was founded in 1996 by its original founders and in 2014, control passed to the current managing director, Christopher Stainton (“the Director”), who oversaw an increase from 5 or 6 consultants to a team of up to 40 during its peak, The Director retained the controlling share position as at the date of Administration.
The Company was primarily funded by Reward Commercial Finance Limited (Reward”), who provided the Company with an invoice discounting facility. Reward have the benefit of a fixed and floating charge over the Company’s assets and also a personal guarantee from the Director.
Administrators' statement of proposals (2019-06-13) · Companies House register