Pendulum IT Ltd (08887372): administration
- Status
- Administration ended
- Administration began
- 2024-04-10
- Formerly
- Aqbell Systems Limited
- Incorporated
- 2014-02-11
- Location
- Sutton
- Industry
- 62020 Information technology consultancy activities
Why it went into administration
- Creditor pressure / legal action
- Sustained trading losses
- Loss of a key customer, supplier or contract
- COVID-19
- Cash flow / liquidity pressure
From the administrators' statement
Creditors should note that, unless otherwise stated, this section of the proposals has been prepared based on information provided by the Board of Directors ("the Board") of the Company and not from our personal knowledge as Joint Administrators.
The Company was incorporated on 11 February 2014 and started trading shortly thereafter. The Company’s business was that of global IT solutions and services. The Company focused on lifecycle services and optimisation services across public, private and hybrid cloud infrastructures.
The Company’s sole director was Gary Miller (until Carl Miller was appointed on 8 April 2024 as a formality to deal with an issue regarding the quorum of the Board meeting to place the Company into Administration).
Administrators' statement of proposals (2024-06-11) · Companies House register