Vedra AI Ltd (11116289): administration and why it failed

Vedra AI Ltd (11116289): administration

Status: Administration ended
Administration began: 2020-10-29
Administrators' firm: Cornerstone Business Turnaround and Recovery
Incorporated: 2017-12-18
Location: Enfield
Industry: 63110 Data processing, hosting and related activities

Why it went into administration

COVID-19
Funding withdrawn / unable to refinance
Cash flow / liquidity pressure
HMRC / tax arrears

From the administrators' statement

Background to the Company

Vedra AI Ltd was incorporated on 18 December 2017 and commenced trading shortly thereafter.

The Company had no employees at the date insolvency proceedings commenced.

Administrators' statement of proposals (2021-01-06) · Companies House register

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Vedra AI Ltd (11116289): administration

Why it went into administration

From the administrators' statement

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Vedra AI Ltd (11116289)