# Oak Artisans Limited (10895436)

> Why UK company 10895436 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/10895436

- **Status:** Administration ended
- **Administration began:** 2023-03-03
- **Administrators' firm:** Quantuma
- **Incorporated:** 2017-08-02
- **Location:** Watford
- **Industry:** 47530 Retail sale of carpets, rugs, wall and floor coverings in specialised stores

## Why it went into administration

- Cash flow / liquidity pressure

## From the administrators' statement

The Company’s director was referred to Nicholas Simmonds and Chris Newell of Quantuma Advisory Limited by Julian Goldie of Parker Cavendish in October 2022.

Following a review of the financial position together with initial discussions with the Director it was established that the Company was insolvent on both balance sheet basis and cash flow basis, as the Company could not pay its debts as and when they fell due.

{t had been decided to place the Company into Administration via a pre-packaged administration sale as there was insufficient working capital and no prospect of persuading new funding to allow medium-term trading to continue in order that the business and assets could be exposed thoroughly to the market. The benefits of achieving a pre-packaged sale were the transfer of the employees and the absence of a break in supply of goods and services.

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/10895436/filing-history/MzM3ODkxMDQ0NWFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/10895436

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.