Bier Nuts Limited (10771290): administration
- Status
- Administration ended
- Administration began
- 2023-03-17
- Administrators' firm
- Quantuma
- Incorporated
- 2017-05-15
- Location
- Watford
- Industry
- 56290 Other food services
From the administrators' statement
As above, Nicholas Simmonds and Jeremy Woodside of Quantuma Advisory Limited were first approached by the Company’s Secured Creditor, Seneca, and introduced to the Company’s Directors in mid-February 2023. A letter of engagement was issued on 27 February 2023. It was signed and returned on the same date.
It was agreed 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.
A second Notice of Intention to Appoint Administrators (NOIA) was signed by the Company's Director and filed in Court on 6 March 2023. It was subsequently served on relevant parties including the Secured Creditor, details of which are provided later in these proposals.
Administrators' statement of proposals (2023-05-18) · Companies House register