# Payme Group Limited (11556647)

> Why UK company 11556647 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/11556647

- **Status:** Administration ended
- **Administration began:** 2025-05-13
- **Administrators' firm:** Begbies Traynor
- **Incorporated:** 2018-09-06
- **Location:** London
- **Industry:** 64209 Activities of other holding companies n.e.c.

## Why it went into administration

- Cash flow / liquidity pressure
- Creditor pressure / legal action

## From the administrators' statement

A former associated company, Payme limited, is owed circa £7.4 million from the Company. Payme Limited was sold to new third party owners. Since the sale, the Company was under pressure to repay the monies owed and ultimately led to a threat of further proceedings from Payme Limited. Payme Limited had presented a winding-up petition against the Company which was listed for hearing on 14 May 2025.

The administrators act as officers of the court and as agents of the Company without personal liability. Any act required or authorised under any enactment to be done by an administrator may be done

The proceedings will be COMI proceedings as defined by the The sole asset of the Company is an outstanding debt owed by IPE Ventures Limited which is under a Company Voluntary arrangement. There are insufficient funds to discharge the liability owed to Payme Limited and other creditors including the secured creditor, IPE Arcadia Street (Flat7) Limited.

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/11556647/filing-history/MzQ3Mjc2ODEyOWFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/11556647

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.