Atmosvr Limited (10310870): administration
- Status
- Administration ended
- Administration began
- 2023-01-11
- Administrators
- Michael Stephen Elliot Solomons, James David Robinson
- Administrators' firm
- Moorfields
- Incorporated
- 2016-08-03
- Location
- London
- Industry
- 62011 Ready-made interactive leisure and entertainment software development
From the administrators' statement
Finn Associates were approached by the Company’s director regarding the Company’s financial position and available options in light of the £1.1m owed by the Company to Mollitium Private Equity Limited (Secured creditor). This debt is secured by a fixed and floating charge over the Company’s assets. Given the Company had ceased to trade and lacked cash to fund repairs required to recommence trading, It was deemed appropriate to place the Company into Administration which would allow for an Administrator to explore options for the Company including a potential sale of the business.
The Administrators held discussions with the secured creditor with a view to securing a sale of the business and assets. The secured creditor subsequently approached the landlord but was not able to reach an agreement to enable the recommencing of trading under the terms of the lease.
Attached at Appendix Il is an account of the work undertaken prior to the Joint Administrators’ appointment and the costs associated with that work.
Administrators' statement of proposals (2023-03-21) · Companies House register