Brand House Holding Ltd (10733263): administration
- Status
- Administration ended
- Administration began
- 2021-02-22
- Administrators' firm
- Quantuma
- Formerly
- Ishoo Ltd
- Incorporated
- 2017-04-21
- Location
- Watford
- Industry
- 63120 Web portals
Why it went into administration
- Funding withdrawn / unable to refinance
From the administrators' statement
3.1. Quantuma Advisory Limited was initially approached by Mr Swycher, one of the Company's directors on 20 November 2020, to provide advice on the options available for the Company, as the director had explained that dispute(s) that had arisen amongst the current and former management/shareholders of the Company was Causing uncertainty within the Company and its wider Group.
3.2 As a result of the above mentioned dispute(s) and uncertainty, the main funders to the Company were becoming increasingly concerned and unwilling to continue to make advances to the Company on an unsecured basis.
3.3 Following a review of the financial position by the directors it was established by them that the Company was insolvent on both a balance sheet basis and on a cash flow basis, as the Company could not pay its debts as and when they fell due, without continued financial support.
Administrators' statement of proposals (2021-04-27) · Companies House register