# Procura Consulting Ltd (09726011)

> Why UK company 09726011 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/09726011

- **Status:** Administration ended
- **Administration began:** 2022-04-13
- **Administrators:** Richard Keley, Michael Stephen Elliot Solomons
- **Administrators' firm:** Moorfields
- **Incorporated:** 2015-08-11
- **Location:** Crawley
- **Industry:** 70229 Management consultancy activities other than financial management

## Why it went into administration

- HMRC / tax arrears
- Supply chain disruption
- Bad debts / customer insolvency

## From the administrators' statement

The directors agreed a termination deal with Liberty Steel which resulted in €1m being paid to the Company over two monthly payments, however the Company suffered £1.54m in bad debt relating to the years 2020 and 2021. In order to preserve cash flow, the Company arranged Time to Pay arrangements with HMRC for PAYE and VAT and negotiated reduced payments to its creditors.

In the third quarter of 2021, the Company started to offer sustainable procurement and procurement digitisation services and rebranded to offer a full range of procurement and supply chain services. This aided cash flow on a short term basis as a few small projects were secured. However by the end of 2021, the Company struggled with its cashflow again and extended its time-to-pay arrangements with HMRC (currently owed £149,000) in November 2021. The directors considered that it was looking hopeful as there were some significant large potential projects in the pipeline for 2022 however these did not come to fruition and the Company’s position deteriorated to the extent that it was unlikely that the subsidiary’s US payroll could be paid in mid April nor the Company’s April end of month UK payroll.

Therefore the Directors sought professional advice and Richard Keley of Moorfields Advisory Limited was introduced to the Company by Matt Cowlishaw at Teneo who

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/09726011/filing-history/MzMzNjc4MjU5MGFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/09726011

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