Clearcycle Ltd (09928910): administration
- Status
- In administration
- Administration began
- 2026-04-10
- Administrators
- Christopher Benjamin Barrett, Stephen Hunt
- Administrators' firm
- of Dow Schofield Watts Business Recovery
- Formerly
- RAW Concept Ltd
- Incorporated
- 2015-12-23
- Location
- Warrington
- Industry
- 46190 Agents involved in the sale of a variety of goods
Why it went into administration
- HMRC / tax arrears
- Creditor pressure / legal action
From the administrators' statement
The Company was incorporated on 23 December 2015 and operated a configurable suite of services that allowed retailers to increase financial yield on returns and overstock, reduce costs, and help the planet by participating in the circular economy.
The Company had traded profitably for a number of years, meeting its working capital requirements through funding provided by NPIF NW Debt LP which was secured by fixed and floating charges over the Company’s assets. The accounts for the year ended 31 December 2022 reported a turnover of £4.26m and a profit of £95,737.
Despite promising projects and maintaining a strong pipeline of opportunities, the Company began to fall into arrears with HM Revenue and Customs (“HMRC”). Dow Schofield Watts Business Recovery LLP (“DSWBR”) was engaged on 2 August 2023 to assist the Company in negotiating a time-to-pay (“TTP”) agreement with HMRC. During this period, the Company also secured additional working capital from The Greater Manchester Combined Authority which was secured by fixed and floating charges over the Company’s assets. The accounts for the year ended 31 December 2023 reported an increased turnover of £4.99m and a profit of £12,090.
Administrators' statement of proposals (2026-06-21) · Companies House register