Pocket Renting Limited (11499369): administration
- Status
- In administration
- Administration began
- 2023-09-29
- Administrators
- Gavin Maher, Matthew Mawhinney
- Administrators' firm
- Teneo
- Incorporated
- 2018-08-03
- Location
- Birmingham
- Industry
- 68209 Other letting and operating of own or leased real estate
Why it went into administration
- Funding withdrawn / unable to refinance
From the administrators' statement
The Company defaulted under the Facility, failing to deposit certain minimum amounts due by 30 June 2023. Payment of all interest that fell due on 15 August 2023 was also not made in full. In addition, sales of properties were not completed as required under the Facility to make sufficient repayments in order to deleverage the Facility.
Steps taken to remedy/turnaround
The Secured Creditor issued Reservation of Rights letters to
Administrators' statement of proposals (2023-11-23) · Companies House register