Streetteam Software Limited (09750608): administration
- Status
- Administration ended
- Administration began
- 2022-08-16
- Administrators
- Philip Joseph Dakin, Matthew Ingram
- Administrators' firm
- Kroll
- Incorporated
- 2015-08-26
- Location
- Birmingham
- Industry
- 62012 Business and domestic software development
Why it went into administration
- COVID-19
- Cash flow / liquidity pressure
From the administrators' statement
Following turbulent trading conditions of the Company’s subsidiaries as a result of the Covid-19 Pandemic, the Directors of the Company had previously engaged Goldman Sachs to run a sales process with a view to a solvent sale of the Group. A sale was not forthcoming and so the Directors approached Kroll Advisory Limited to run an accelerated AMA process. No offers for the business were received on a solvent basis and so the Directors took steps to enter the Company into Administration.
2.4 Appointment
Matthew Ingram and Philip Dakin of Kroll were formally appointed Joint Administrators of the Company by its Directors on 16 August 2022.
Administrators' statement of proposals (2022-10-21) · Companies House register