Subsy Limited (10972419): administration and why it failed

Subsy Limited (10972419): administration

Status: Administration ended
Administration began: 2024-02-28
Administrators: Michael Robert Fortune, Stewart Goldsmith
Administrators' firm: Leonard Curtis
Formerly: FF Albus Limited
Incorporated: 2017-09-20
Location: Fareham
Industry: 62012 Business and domestic software development

Why it went into administration

HMRC / tax arrears
COVID-19
Funding withdrawn / unable to refinance
Cash flow / liquidity pressure
Sustained trading losses
Competition / price pressure

From the administrators' statement

2.17

2.2

2.3

Administrators' statement of proposals (2024-03-11) · Companies House register

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Subsy Limited (10972419): administration

Why it went into administration

From the administrators' statement

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Subsy Limited (10972419)