Underpinned Ltd (11501632): administration and why it failed

Underpinned Ltd (11501632): administration

Status: Administration ended
Administration began: 2023-08-24
Administrators: Elizabeth Anne Welch, Matthew Ingram
Administrators' firm: Kroll
Incorporated: 2018-08-06
Location: Birmingham
Industry: 58190 Other publishing activities

Why it went into administration

Cash flow / liquidity pressure
HMRC / tax arrears
Sustained trading losses

From the administrators' statement

• The Company was still in the initial stages of development and has been loss making since its incorporation.

• The Company has wholly been supported by its shareholders.

The Company required further funds/ investments from its shareholders to continue to trade.

Administrators' statement of proposals (2023-10-23) · Companies House register

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