Relic the Waren Ltd (10079952): administration
- Status
- Administration ended
- Administration began
- 2017-09-04
- Administrators
- Simon Robert Thomas, Arron Simon Kendall
- Administrators' firm
- Moorfields
- Incorporated
- 2016-03-23
- Location
- London
- Industry
- 41202 Construction of domestic buildings
Why it went into administration
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
From the administrators' statement
• The Company had purchased the Property for £2m. This was achieved by agreeing a deferred payment of £900k with the vendor, secured by way of a legal charge over the Property.
• The Company also obtained a loan from Lendinvest which is secured by way of a debenture and legal charge.
• Soon after construction commenced, the Company began to suffer from cashflow problems which meant that renovations of the Property ceased in July 2017.
Administrators' statement of proposals (2017-11-08) · Companies House register