Greenjinn Ltd (09089971): administration
- Status
- Administration ended
- Administration began
- 2023-11-10
- Administrators
- Ben David Woodthorpe, Mark Supperstone
- Administrators' firm
- ReSolve
- Incorporated
- 2014-06-17
- Location
- London
- Industry
- 63990 Other information service activities n.e.c.
Why it went into administration
- Weak consumer demand
- Rising costs / inflation
- Energy costs
- Funding withdrawn / unable to refinance
- HMRC / tax arrears
- Sustained trading losses
From the administrators' statement
Creditors should note that, unless otherwise stated, this section of my Proposals has been prepared based on information provided to me by the directors of the Company and not from my personal knowledge as Administrator.
GreenJinn Limited (the Company) was formed on 17 June 2014 and operated as a digital coupon / cashback incentive platform trading in London. Customers earned cashback via the Company’s app after purchasing certain grocery products. The Company had various relationships with well-known brands, who would in turn pay the Company to promote certain products, which they would then produce a coupon for and market on their website/app. The cashback on these products was therefore brand-generated, as the brands would provide incentives for purchasing certain products. In addition, the Company developed technology allowing the subscribed brands to obtain significant marketing information on consumer spending habits.
The Company’s sales were earned via the coupon campaign and subscription fees paid by brands. It held a database of over 1 million members with 11,000 active consumer users per month.
Administrators' statement of proposals (2023-11-21) · Companies House register