Eliga Services Limited (10000253): administration
- Status
- Administration ended
- Administration began
- 2023-05-15
- Administrators
- Carl Derek Faulds, Stewart Goldsmith
- Administrators' firm
- Leonard Curtis
- Incorporated
- 2016-02-11
- Location
- Fareham
- Industry
- 82990 Other business support service activities n.e.c.
Why it went into administration
- COVID-19
- Sustained trading losses
- Management failings / irregularities
- Parent or group failure
- Competition / price pressure
From the administrators' statement
2.1 The company was incorporated in 2016 and was set up to provide specialist technology recruitment into investment and asset management companies. A holding company, AG1 Holdings Limited, was incorporated at the same time by Graham and Linda Nyman together with Donald Roll, a US based angel investor who was a personal friend of Mr Nyman.
2.2 The company had a longstanding relationship with one particular customer, Fidelity International, placing a number of contractors with the organisation. This part of the business had historically been very profitable.
2.3 Mr Nyman became interested in open banking and set out to produce a software platform that would use the new application programming interfaces (APIs) put in place by consumer banks. It was anticipated that this area had a huge opportunity for growth and, if a software platform could be successfully produced, it would generate significant profits for the company.
Administrators' statement of proposals (2023-07-11) · Companies House register