This IS the Tree Ltd (08920651): administration
- Status
- Administration ended
- Administration began
- 2024-02-13
- Administrators
- Andrew James Pear, Milan Vuceljic
- Administrators' firm
- Moorfields
- Incorporated
- 2014-03-04
- Location
- London
- Industry
- 63990 Other information service activities n.e.c.
Why it went into administration
- COVID-19
- Cash flow / liquidity pressure
- Sustained trading losses
From the administrators' statement
The Company was incorporated as This Is The Tree Ltd (“the Company”) on 4 March 2014 and commenced trading under the name The Tree as a digital marketing agency. On incorporation, the directors were Daniel Andrews, Edward Fraser, Dawn Andrews and Raymond Andrews.
The Company was initially funded by the Directors’ personal funds and the business grew steadily over several years. The Company was consistently profitable from the financial years 2014 to 2023. At its peak the Company employed 47 members of staff.
The Company began experiencing financial difficulties following the Covid-19 pandemic and the Directors, Daniel Andrews and Edward Fraser took on additional debt which was personally guaranteed by them (“the PG Debts’). This debt currently totals c£380,000. In addition, the Directors, Raymond Andrews and Dawn Andrews introduced personal funding via a directors’ loan account totalling £560,000, of which £360,000 was invested into the business via external funding and is secured against their property (“the Family Debt”).
Administrators' statement of proposals (2024-03-22) · Companies House register