Neal Investments Limited (09339470): administration
- Status
- Administration ended
- Administration began
- 2023-08-10
- Administrators' firm
- FTS Recovery
- Incorporated
- 2014-12-03
- Location
- Knowlhill
- Industry
- 96090 Other service activities n.e.c.
Why it went into administration
- Rising costs / inflation
- Property / lease costs
- Rising interest rates
From the administrators' statement
Neal Investments Limited (“the Company") was incorporated on 3 December 2014, and was formed as an investment Company which would lend/ invest on the basis of receiving interest on the principal amount, and yielding monthly income. The Company has invested upwards of £14 million in lending on mainly properties, developments and various Special Purpose Vehicles ("SPV") which is essentially a subsidiary created by a parent company in order to isolate financial risk.
On incorporation the sole director of the Company was John Howard Neal who still remains in office as director.
The Company was initially funded by its directors allowing the business to grow steadily via investments. The Company's insolvency comes down to various failures of the SPV’s and failure by debtors to keep up with payments due to the interest rate hike as many of them were subject to variable interest rates.
Administrators' statement of proposals (2023-10-05) · Companies House register