Luxuryshakes Ltd (11020129): administration
- Status
- Administration ended
- Administration began
- 2022-12-21
- Administrators
- Martin Charles Armstrong, Andrew Richard Bailey
- Administrators' firm
- Interpath Advisory
- Formerly
- Shericks Shakes Limited
- Incorporated
- 2017-10-18
- Location
- Sutton
- Industry
- 11070 Manufacture of soft drinks; production of mineral waters and other bottled waters
Why it went into administration
- COVID-19
- Supply chain disruption
From the administrators' statement
Creditors should note that unless otherwise stated, this section of the proposals has been prepared based on information provided by the directors of the Company and not from our personal knowledge as Joint Administrators.
The Company was incorporated on 18 October 2017. The Company’s business was the production and sale of luxury milkshakes. The Company was financed by directors’ loans, shareholders loans, grants and equity investments.
The Company took on leasehold premises in June 2019 and started preparing for the installation of bespoke milkshake production equipment, which was ordered from Italy at a cost of £780,000. The equipment was funded by the capital that had been raised and by equipment finance of £250,000 provided by Ultimate Finance on a five-year agreement.
Administrators' statement of proposals (2023-01-04) · Companies House register