Chx.Life Limited (11448997): administration
- Status
- Administration ended
- Administration began
- 2022-11-11
- Administrators' firm
- Leonard Curtis
- Formerly
- Teamchx Limited
- Incorporated
- 2018-07-04
- Location
- Fareham
- Industry
- 96090 Other service activities n.e.c.
Why it went into administration
- Creditor pressure / legal action
- Rising interest rates
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- COVID-19
- Weak consumer demand
- Energy costs
- HMRC / tax arrears
- Property / lease costs
- Brexit
From the administrators' statement
CHX.Life Limited is a holding company that owns 90.3% of the shares in Platinum Property Partners Limited which is a trading company, 100% of the shares in Solo (Leasing) Limited which is effectively a dormant company and 100% of the shares in Bourne Asset Management Limited, which itself holds 100% of the shares in 5 property holding companies that are trading and 80% of the shares in a storage company that is trading.
CHX.Life Limited has been funded by way of a number of private investors providing term loans, attracting interest, in the total sum of circa £5.3m. These funds have then been transferred within the subsidiaries, creating intercompany loan accounts, with funds being utilised to assist in the purchase of the property assets and for working capital where required.
The company has no employees but provided some management functions such as holding the group insurance policy.
Administrators' statement of proposals (2023-01-10) · Companies House register