Apex Rides Limited (11395550): administration
- Status
- Administration ended
- Administration began
- 2023-10-10
- Administrators
- Paul Robert Appleton, Stephen Mark Katz
- Administrators' firm
- Begbies Traynor
- Formerly
- Animo Holdings Limited
- Incorporated
- 2018-06-04
- Location
- London
- Industry
- 47910 Retail sale via mail order houses or via Internet
Why it went into administration
- Weak consumer demand
- Bad debts / customer insolvency
- COVID-19
- Rising costs / inflation
- Supply chain disruption
- HMRC / tax arrears
- Creditor pressure / legal action
- Regulatory change or action
From the administrators' statement
Our proposals for achieving the purpose of the administration provide detailed information in relation to the Company. The following background information is provided to assist creditors who may have limited knowledge of the Company and its affairs to better understand the reasons for the pre-packaged sale.
The Company was incorporated on 4 June 2018 under the name Animo Holdings Limited, and subsequently changed its name to Apex Rides Limited on 21 November 2019,
The Company was established as the Directors recognised a gap in the market for a digital business that could disrupt traditional gyms, with the development of an exercise bike connected to the internet, with access to live gym sessions with professional trainers. The Company, through a design agency developed the Apex bike.
Administrators' statement of proposals (2023-11-08) · Companies House register