From the administrators' statement

Nicholas Simmonds of Quantuma Advisory Limited was first approached by the Company on 4 August 2022 and subsequently instructed on 2 May 2023.

Following a review of the financial position together with various discussions with the Directors, it was established that the Company was insolvent on both balance sheet basis and cash flow basis, as the Company could not pay its debts as and when they fell due without continued financial support.

It had been decided to place the Company into Administration with a view to achieving a sale of the business sale as there was insufficient working capital and no prospect of persuading new funding to allow medium-term trading to continue in order that the business and assets could be exposed thoroughly to the market.

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JA Health (Chiropractic) Limited (09232431)

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