CGH 2020 Realisations Limited (11027703): administration
- Status
- Administration ended
- Administration began
- 2020-06-29
- Administrators
- Lyn L Vardy, Robert Andrew Croxen, Mark Granville Firmin
- Administrators' firm
- Alvarez & Marsal
- Formerly
- Customade Group Holdco Limited; Crossco (1426) Limited
- Incorporated
- 2017-10-24
- Location
- Brighton
- Industry
- 64202 Activities of production holding companies
Why it went into administration
- HMRC / tax arrears
- Parent or group failure
- Funding withdrawn / unable to refinance
- Cyber attack / IT failure
From the administrators' statement
Full details of the events leading up to the administration can be found in the Statement of Insolvency Practice 16 (“SIP16”) statement at Appendix 8. A brief summary is provided . below which should be read in conjunction with the SIP16 statement.
We were introduced to the Group in December 2019 by its Lenders, who were concerned by the performance of the Group and its ability to generate sufficient cash to service its debt and meet its obligations to stakeholders.
At the start of 2020, a new funding request was made to Cairngorm and the Lenders. A&M was engaged on 13 January 2020 by the Group-and the Lenders to perform an independent - business review of the Group's short-term cash flow forecast and 2020 budget and provide
Administrators' statement of proposals (2020-07-17) · Companies House register