Immersive Escapes Limited (09324470): administration
- Status
- Administration ended
- Administration began
- 2020-06-18
- Administrators' firm
- Antony Batty
- Formerly
- Jurassic Virtual Reality Limited
- Incorporated
- 2014-11-24
- Location
- London
- Industry
- 64209 Activities of other holding companies n.e.c.
Why it went into administration
- COVID-19
- Creditor pressure / legal action
- Energy costs
- Weather / natural events
From the administrators' statement
The Company was incorporated on 24 November 2014 and began its operations in April 2015. tt was formed in order to raise funding via both share capital and secured debt for the activities of its wholly-owned subsidiary, Dinosaurs in the Wild Limited (“DITW”). DITW used the funds to build a family visitor attraction of the same name (“the Show” v"): Approximately £10,500,000 was loaned by the company to DITW.
Whilst DITW was party to the contracts for construction, the set and all intellectual property rights ("IP") belonged to the Company. The Company granted two fixed charges in favour of Xxiii Capital (“the Secured Creditor") via its various companies, as detailed in Section 1. A total of £3,800,000 ’ was loaned to the Company by the Secured Creditor.
The Show is a theatrical experience with 3D CGI imagery, animatronics and a walk-through installation. The attraction features puppets, models and films each accompanied by actors. It aims to be both educational and entertaining, taking visitors back in time to learn about dinosaurs and the world they inhabited.
Administrators' statement of proposals (2020-09-01) · Companies House register