Phoenix Cellular Limited (09697970): administration
- Status
- Administration ended
- Administration began
- 2024-05-24
- Administrators
- Dominik Thiel-Czerwinke, Louise Donna Baxter
- Administrators' firm
- Begbies Traynor
- Formerly
- Phoenix 2012 Limited
- Incorporated
- 2015-07-22
- Location
- Leigh-on-Sea
- Industry
- 47421 Retail sale of mobile telephones
Why it went into administration
- Creditor pressure / legal action
From the administrators' statement
On 20 May 2024 the Company received a demand from solicitors acting on behalf of Coast Telecom (Coast) demanding payment of the sum of £620,000, less the value of Coast stock returned subject to Retention of Title, by 4pm on 24 May 2024, in default of which a winding up petition would be presented by Coast without
further notice.
Phoenix was unable to pay the sum demanded, is balance sheet and cashflow insolvent. The threat of a winding up petition constituted an Insolvency Action under the Praetura Asset Based Lending Agreement which Tregaron North West Limited (“Tregaron’) had taken assignment and benefit of.
Administrators' statement of proposals (2024-07-22) · Companies House register