# Stenn International Ltd (09488169)

> Why UK company 09488169 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/09488169

- **Status:** In administration
- **Administration began:** 2024-12-04
- **Administrators:** James Robert Tucker, Joshua James Dwyer, Kristina Kicks
- **Administrators' firm:** Interpath Advisory
- **Incorporated:** 2015-03-13
- **Location:** London
- **Industry:** 82990 Other business support service activities n.e.c.

## Why it went into administration

- Creditor pressure / legal action
- Parent or group failure
- Competition / price pressure

## From the administrators' statement

Stenn International was incorporated in England and Wales on 13 March 2015 and traded from leasehold offices in London. Stenn International, together with Stenn UK, operated a business providing invoice discounting services, purchasing receivables at a discount from Sellers based in emerging markets who provided goods and services to their buyers.

The business of invoice discounting involves the sale and purchase of receivables at a discount. Typically, a supplier (the “Seller”) will provide goods or services to a purchaser (the “Obligor”) on payment terms. The payment terms mean that there will be a time lag between the Seller issuing the invoice and the due date for payment by the Obligor (eg: 90 days or 120 days). To accelerate its receipt of monies, the Seller may sell the receivable to a factor (eg: Stenn Group) at a discount. In this way, the Seller will receive a percentage of the face value of the invoice immediately from the factor, who will become entitled to collect 100% of the invoice amount from the Obligor on the due date at the expiry of the payment terms.

The Company operated as the servicer and origination agent in relation to two securitisation programmes:

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/09488169/filing-history/MzQ1MjI5MTcyMmFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/09488169

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