# Prospect Business Centres (Old Bailey) Limited (10036992)

> Why UK company 10036992 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/10036992

- **Status:** Administration ended
- **Administration began:** 2020-03-19
- **Administrators:** Miles Needham, Simon Peter Carvill-Biggs
- **Administrators' firm:** FRP Advisory
- **Incorporated:** 2016-03-02
- **Location:** Hertfordshire
- **Industry:** 70229 Management consultancy activities other than financial management

## Why it went into administration

- Cash flow / liquidity pressure
- Funding withdrawn / unable to refinance

## From the administrators' statement

The Group provided high quality serviced office accommodation across eight locations in Leeds and London. The Group traces its roots back to the first business centre opened in Leeds in 1980, latterly expanding into prime business locations in London.

The Group provided flexible term office accommodation via standard licence agreements, as well as ad hoc meeting rooms and a virtual office service.

The Group’s expansion to eight locations was partially funded through borrowing from Archover from 2018 onwards, with the Group granting debentures to Archover as security for its borrowings.

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/10036992/filing-history/MzI2NTExNDczMGFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/10036992

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