Rapid Response Medical Services Ltd (11020015): administration
- Status
- Administration ended
- Administration began
- 2022-12-05
- Administrators
- Benjamin John Wiles, Michael Lennon
- Administrators' firm
- Kroll
- Incorporated
- 2017-10-18
- Location
- London
- Industry
- 86900 Other human health activities
Why it went into administration
- Funding withdrawn / unable to refinance
- HMRC / tax arrears
- Sustained trading losses
- Cash flow / liquidity pressure
- Loss of a key customer, supplier or contract
- Pension deficit
From the administrators' statement
The Company was incorporated 18 October 2017 and was a private ambulance provider to its customers. The Company’s operations were located across nine (9) locations, and the Company was a leading supplier to its customers of private ambulances and paramedic services in the South and East of England.
The Company had assigned its book debts to Arbuthnot Commercial Asset Based Lending Limited (ACBAL) under an invoice finance agreement, and they hold a fixed and floating charge over the Company's property and undertaking of the Company.
Events leading up to Administration The Company had entered into an invoice finance agreement with ACABL on 7 April 2022. However, the Company was lossmaking and following the misuse of the facility with ACABL, Kroll was engaged on 7
Administrators' statement of proposals (2023-01-13) · Companies House register