BW Realisations Limited (10979547): administration
- Status
- Administration ended
- Administration began
- 2022-09-21
- Administrators
- Christopher Newell, Nicholas Simmonds
- Administrators' firm
- Quantuma
- Formerly
- Big Wheel Film & Television Limited
- Incorporated
- 2017-09-25
- Location
- London
- Industry
- 59113 Television programme production activities
Why it went into administration
- Cash flow / liquidity pressure
From the administrators' statement
Quantuma Advisory Limited were first anpproached by the Company on 29 December 2021 and subsequently instructed on 2 July 2022. During the intervening months the Director remained in regular correspondence with Mr Simmonds in respect of the Company’s circumstances, and the available options.
Following a review of the financial position together with various discussions with the Directors, 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.
It 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.
Administrators' statement of proposals (2022-12-01) · Companies House register