# Gulaid House INC Limited (12002299)

> Why UK company 12002299 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/12002299

- **Status:** In administration
- **Administration began:** 2026-05-27
- **Administrators:** Paul Steven Cooper, Simon Baggs, David Paul Hudson
- **Administrators' firm:** FRP Advisory
- **Formerly:** NOW INC Limited
- **Incorporated:** 2019-05-17
- **Location:** Northampton
- **Industry:** 55900 Other accommodation

## From the administrators' statement

The Company forms part of a wider portfolio of property holding Special Purpose Vehicles (“SPVs”) understood to be connected, directly or indirectly, with the collapse of Market Financial Solutions Limited —in Administration (“MFS’), a specialist property and bridging lender.

MFS and certain of its subsidiaries experienced banking restrictions in late 2025, culminating in the freezing of accounts. MFS entered administration on 25 February 2026 with insolvency practitioners from Alix Partners UK LLP (“AP”) appointed as joint administrators.

In the period immediately following the administration of MFS, the directors who collectively controlled the relevant SPV portfolio (hereafter any reference to the “SPV Portfolio” includes the Company) came together and jointly sought urgent insolvency advice in light of the wider MFS Group events, the risk of creditor action, and the need to stabilise and protect the Companies’ underlying property interests and rental income pending further investigation and an orderly strategy being agreed upon.

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/12002299/filing-history/MzUzMjIyOTIzNmFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/12002299

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