PR2024 Ltd. (09482868): administration
- Status
- In administration
- Administration began
- 2024-05-09
- Administrators
- Martin Charles Armstrong, Andrew Richard Bailey
- Administrators' firm
- Interpath Advisory
- Formerly
- Ridouts Professional Services Limited; Ridouts Professional Services PLC
- Incorporated
- 2015-03-11
- Location
- Sutton
- Industry
- 69102 Solicitors
Why it went into administration
- Bad debts / customer insolvency
- COVID-19
- Cash flow / liquidity pressure
From the administrators' statement
Creditors should note that, unless otherwise stated, this section of the proposals has been prepared based on information provided by the Board of Directors ("the Board") of the Company and not from our personal knowledge as Joint Administrators.
This report should be read in conjunction with the Statement of Insolvency Practice 16 Report, (“SIP16”), which is attached at Appendix 2. The SIP 16 provides creditors with a comprehensive account of the circumstances giving rise to the Company being placed into Administration and the matters that were considered for pursuing a pre-packaged administration sale of the business and assets of the Company.
The Company was formed on 11 March 2015 and started trading shortly thereafter. The Company’s business was that of a solicitor’s firm. The Company operated from 4" Floor, North Suite, 7-10 Chandos Street, London, United Kingdom, W1G 9DQ (“the Premises”) by way of a ten year lease ending in April 2032, with a break clause at five years.
Administrators' statement of proposals (2024-06-20) · Companies House register