Morpheus and Co (Design) Ltd (09939797): administration
- Status
- In administration
- Administration began
- 2024-12-13
- Administrators
- Franklyn Ofonagoro, Trevor John Binyon
- Administrators' firm
- Opus Restructuring
- Formerly
- Morpheus Sorores Partnership Limited; Morpheus Consultancy Limited; Hyperion Securities Limited
- Incorporated
- 2016-01-07
- Location
- Milton Keynes
- Industry
- 70100 Activities of head offices
Why it went into administration
- Cash flow / liquidity pressure
- Loss of key people
From the administrators' statement
Whilst pipeline remained strong and the Company continued to secure a number of new projects, the shift to hospitality clients introduced a ‘stop-start’ dynamic to the design process, which the Company had not experienced in its residential projects.
In January 2024, Andrew Murray began to detect discrepancies and inaccuracies within the Company’s management accounts and reporting of projects.
In February 2024, the new managing director resigned from the business and Andrew Murray reassumed his position as managing director.
Administrators' statement of proposals (2025-02-12) · Companies House register