Nova Group Holdings Limited (10189159): administration
- Status
- Administration ended
- Administration began
- 2024-01-19
- Formerly
- Galactic HQ Ltd; Livewire 09 Ltd
- Incorporated
- 2016-05-19
- Location
- Norwich
- Industry
- 70100 Activities of head offices
Why it went into administration
- HMRC / tax arrears
- COVID-19
- Rising costs / inflation
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
From the administrators' statement
The Company was incorporated on 19 May 2016 under the name Livewire 09 Limited. This was one of a number of ‘shell’ companies incorporated within a start-up portfolio which were set aside for future allocation under a collective company start-up portfolio umbrella.
The Company became an operating company on 11 May 2017 and was renamed as Galactic HQ Limited which provided various services to the ather companies in the startup portfolio. The Company continued to trade under this name until 15 May 2020 when it assumed an identity as the Holding Company and was renamed Nova Group Holdings Limited. The Company managed the equity assets for a number of portfolio companies in a multi start-up portfolio which included, but was not limited to, high potential start-up organisations.
From 2017 to 2020 the Company operated by providing business and technology services to various start-up companies within the start-up portfolio. These services were also provided through two of the Company's other operating companies, Stellar Central Services Limited (“SCSL’) and Nova Cofoundery Limited ("NCL").
Administrators' statement of proposals (2024-03-23) · Companies House register