Molotovs and Marshmallows Limited (10140338): administration
- Status
- Administration ended
- Administration began
- 2024-01-30
- Administrators
- Christopher James Lawton, Dean Watson
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2016-04-21
- Location
- Manchester
- Industry
- 93199 Other sports activities
Why it went into administration
- Rising costs / inflation
- Competition / price pressure
- Property / lease costs
- Rising interest rates
From the administrators' statement
The following has been provided by the directors of the Company: MNM Gaming
MNM Gaming saw a gap in the market by targeting wealthier individuals with higher net values. The Chinese international students in the UK are worth over 8 times more than local British students in spending power and propensity to spend. The overall Chinese population in the UK has nearly doubled since 2017 with 540,000 British National Overseas given out in 2021, increasing international popularity with UK Universities and MNM aimed to target and monetise this growing high net worth group. The MNM brand catered to both the local gamers but also culturally connected to the Chinese communities, the competitive advantage no other competitors had.
In Q3/4 of 2023 alone several Football Clubs, drink, hardware, and etailer companies showed interest in partnerships due to our international success and our specific targeting of Chinese individuals.
Administrators' statement of proposals (2024-04-06) · Companies House register