Qoot BC4 UK Limited (11637699): administration
- Status
- Administration ended
- Administration began
- 2021-05-17
- Administrators' firm
- Libertas Associates
- Incorporated
- 2018-10-23
- Location
- Bushey
- Industry
- 96090 Other service activities n.e.c.
Why it went into administration
- COVID-19
- Creditor pressure / legal action
From the administrators' statement
3.1 Prior to Administration, the proposed Administrator gathered information on the Company to ensure that he was in a position to consent to act as Administrator and to formulate an initial strategy for pursuing achievement of an Administration objective.
3.2 In the first instance the Proposed Administrator analysed the financial data available to him and sought to identify whether the business could be rescued as a going concern. A Company Voluntary Arrangement was considered as a rescue mechanism by which creditor claims were comprised to an extent whereby ongoing trade could be both feasible and profitable. Unfortunately, it was determined that substantial further investment would be required and that given the pandemic and resulting difficult market conditions this would not succeed.
3.3 The Proposed Administrator took advice from Mr Anthony Berg (a member of the National Association of Valuers and Auctioneers) of Williams & Partners Insolvency Agents and Valuers as to both the realisable value of the assets. it quickly became clear that the assets had value and there was potential to obtain a premium for the Company’s leasehold interest in the trading premises.
Administrators' statement of proposals (2021-07-24) · Companies House register