79TH Luxury Living Limited (10787951): administration
- Status
- In administration
- Administration began
- 2025-04-24
- Administrators
- Robert Goodhew, Jeremy Nigel Ian Woodside, Tracey Lee Pye, Andrew Gordon Stoneman
- Administrators' firm
- Kroll
- Incorporated
- 2017-05-24
- Location
- Manchester
- Industry
- 68100 Buying and selling of own real estate
Why it went into administration
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
From the administrators' statement
In the period leading up to the administrations, the Group had encountered increasing financial pressure and liquidity constraints. On 10 April 2025 the Group engaged Quantuma Advisory Limited to undertake a review of its short term cashflow and provide advice as to the options available to the holding company, its subsidiaries and its directors in light of UK insolency law).
As part of this process, a cash flow forecast was prepared by the Group and various options were considered to stabilise the Group’s financial position, along with the steps that may have been necessary to protect the available assets from recovery action.
The directors consider that the financial constraints of the business occurred when, on 28 February 2025, the City of London Police made public that a number of arrests were made in respect of an ongoing investigation into the Group.
Administrators' statement of proposals (2025-07-15) · Companies House register