QB Technology Limited (11370744): administration
- Status
- Administration ended
- Administration began
- 2021-09-10
- Administrators
- Paul David Williams, Edward Robert Bines
- Administrators' firm
- Kroll
- Incorporated
- 2018-05-18
- Location
- London
- Industry
- 25110 Manufacture of metal structures and parts of structures
Why it went into administration
- COVID-19
- HMRC / tax arrears
- Sustained trading losses
- Creditor pressure / legal action
- Cash flow / liquidity pressure
From the administrators' statement
The Company was incorporated on 18 May 2018 and it traded under the name “QB Technology”. As referred to earlier in this report. The Company was a UK based modular construction company.
The Company traded from leasehold premises located at 10 New Courtwick Lane, Wick, Littlehampton, BN17 7RZ where it manufactured its modular building systems. Its registered office was located at First Floor, 41-44 Great Queen Street, London WC2B 5AD.
The Company's working capital requirements were predominantly funded by QB Technology Holding Limited in the form of inter-company loans. The Company granted QB Technology Holding Limited a debenture created on 13 August 2021, which confers fixed and floating charges over all of the assets of the Company, against a loan of £260,000, provided at that time. According to the June 2021 management accounts, the total indebtedness to QB Technology Holding Limited was approximately £3,983,130.
Administrators' statement of proposals (2021-09-28) · Companies House register