ACG Holdco Limited (11157123): administration
- Status
- Administration ended
- Administration began
- 2024-05-29
- Administrators
- Richard Dixon Fleming, Richard James Beard
- Administrators' firm
- Alvarez & Marsal
- Formerly
- Montreux Holdco Limited
- Incorporated
- 2018-01-18
- Location
- Brighton
- Industry
- 64209 Activities of other holding companies n.e.c.
Why it went into administration
- Cash flow / liquidity pressure
- Funding withdrawn / unable to refinance
- Sustained trading losses
From the administrators' statement
As an intermediate holding company, the Company did not generate revenue, and its main assets were the Midco Shares and the Midco ICL. The Company had no employees. The statutory directors were employed and remunerated by another company in the Group.
The Group (through its operating companies) provided specialist care services supporting adults with complex continuing health needs operating 52 specialist care facilities in the UK. The Group had approximately 4,300 employees and almost 2,000 patients including over 700 residents.
The Group’s trading performance had deteriorated since around 2022, as detailed below, which resulted in the Group experiencing financial difficulties in the period leading up to the administration of the Company.
Administrators' statement of proposals (2024-06-12) · Companies House register