# 8 Outdoor Media Limited (09449118)

> Why UK company 09449118 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/09449118

- **Status:** Administration ended
- **Administration began:** 2019-08-09
- **Administrators:** Cameron Gunn, Simon Jagger, Ben David Woodthorpe
- **Administrators' firm:** ReSolve
- **Formerly:** Shine Outdoor Media Limited
- **Incorporated:** 2015-02-19
- **Location:** London
- **Industry:** 73110 Advertising agencies

## Why it went into administration

- Cash flow / liquidity pressure
- Funding withdrawn / unable to refinance
- Sustained trading losses
- Competition / price pressure

## From the administrators' statement

For the years ending 31 December 2016 (statutory) and 31 December 2017 (draft), the Group generated revenues totalling £13.1 million and £11.8 million, respectively. Profits of circa £0.5m were generated in 2016, however, for the year ended 31 December 2017, the Group made a loss of circa £7.4 million

Management considered tt had made significant inroads and become a disrupter to the digital OOH advertising industry. It considered the potential for the business was vast, but further investment would be required to restructure the balance sheet, fund losses, acquire further sites and build more digital signage structures and screens. Accordingly, management sought external investment.

The Group successfully secured initial investment from SHK in February 2018 but soon afterwards the Group determined that an additional £10 million would be required to expand operations, with several parties showing an interest in funding the Group. A further £1 million was invested by Group CEO, Simon Grice and SHK, equally, but this was not considered sufficient.

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/09449118/filing-history/MzI0NDc1NzY3NWFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/09449118

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.