Regenr8 Limited (08985917): administration
- Status
- Administration ended
- Administration began
- 2019-02-01
- Administrators
- Mark Elijah Thomas Bowen
- Administrators' firm
- Lewis Onions Solicitors and Smart Insolvency
- Incorporated
- 2014-04-08
- Location
- Droitwich
- Industry
- 38320 Recovery of sorted materials
Why it went into administration
- Creditor pressure / legal action
- Funding withdrawn / unable to refinance
From the administrators' statement
3.1 BCRS Business Loans Limited (‘BCRS’) granted a £70,000 loan to Regenr8 Ltd (‘RGN’) on 13 October 2017. This was the third loan, albeit that only £35,000 was new money advanced, with the balance of £35,000 refinancing the older loans they had with BCRS.
RGN missed repayments of the loan in March 2018. This coincided with RGN entering into a CVA in April 2018.
BCRS then agreed temporary repayments of £1,500 until June 2018, with the intention to review the position at that point in order to establish if payments could be increased.
Administrators' statement of proposals (2019-04-11) · Companies House register