Jump Factory Leisure Limited (09594657): administration
- Status
- Administration ended
- Administration began
- 2018-07-17
- Administrators
- Julie Anne Palmer, Sally Richards
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2015-05-16
- Location
- Salisbury
- Industry
- 93199 Other sports activities
Why it went into administration
- Funding withdrawn / unable to refinance
- Loss of a key customer, supplier or contract
From the administrators' statement
The Company was incorporated on 16 May 2015 by Andrew Buckingham and operated as a leisure business running an indoor trampolining park in Basingstoke from a leasehold property. The main drive behind incorporation was the proposed gap in the market for a trampolining park in Basingstoke and the success of other parks across the UK. The Company employed two duty managers and an estimated 50 staff of various grades all of which were employed on a casual basis.
The Company officially began trading on 29 February 2016 and originally had three directors: Mark Buckingham, Andrew Buckingham and Richard White. Each of the original directors had experience in the leisure industry having previously worked in the marketing, management and skiing sectors.
On incorporation each director injected £30,000 into the Company and finance agreements for various assets were arranged through Portman Asset Finance to facilitate initial trading. In total 11 agreements were obtained with a total value of £450,000. In addition, an overdraft was arranged with Barclays up to £25,000. Loan repayments were projected to be an estimated £24,000 per month.
Administrators' statement of proposals (2018-08-28) · Companies House register