BFS Realisations Limited (11339551): administration
- Status
- Administration ended
- Administration began
- 2022-06-08
- Administrators
- Francis Gavin Savage, David Ronald Elliott
- Administrators' firm
- Begbies Traynor
- Formerly
- BAD FOX Studios Ltd
- Incorporated
- 2018-05-01
- Location
- Chatham
- Industry
- 62011 Ready-made interactive leisure and entertainment software development
From the administrators' statement
Bad Fox Studios Ltd was incorporated in 2018 and ran operationally on the basis of private finance loans from its directors and ABH Management LLP, an investment partnership. The purpose of Bad Fox Studios Ltd was to create video games for the gaming market which was a growth area for the UK.
The Company employed approximately 14 members of staff and two key directors, Malcolmbe Warne and Barry Hudson. The directors continued to forgo salary and loan the company money to support the Company’s trading. During this initial three plus year period, the Company had virtually no opportunity to obtain revenue as it has been in Product Development mode with its first product, Super Squad, an online game.
The Company was in need of additional monies to ensure the team could continue to be paid and in addition much increased expenditure was required for marketing and PR of the product. ABH Management, due to extreme losses incurred from other investments made, were not in a position to advance any more money, nor where the directors. Without significant investment the Company’s continued trading was uncertain.
Administrators' statement of proposals (2022-08-05) · Companies House register