MEG Trading 2 Limited (10534821): administration
- Status
- In administration
- Administration began
- 2025-03-14
- Administrators
- Anthony Collier, Gary Hargreaves
- Administrators' firm
- FRP Advisory
- Incorporated
- 2016-12-21
- Location
- Preston
- Industry
- 68100 Buying and selling of own real estate
Why it went into administration
- Creditor pressure / legal action
- Bad debts / customer insolvency
From the administrators' statement
MT2 was incorporated in December 2016 and acquired the Property out of Receivership in November 2022. Ahead of the acquisition, Epel was incorporated in October 2022 to act as developer. The Companies are connected by common director and shareholder, Lawrence Eaglestone.
The Development was funded via a loan from CSL and a facility with TCF. TCF's facility was initially provided to assist with the costs of the development of the Property, and particularly the fit out of units and communal space on floors 3 and 4.
In May 2023, TCF extended its facility with EPEL by £196,000 to assist with some additional costs, and in October 2023, TCF extended its facility by a further £240,000 to assist with the costs associated with some fire remediation works.
Administrators' statement of proposals (2025-05-08) · Companies House register