Realisation B 2024 Ltd (12168524): administration
- Status
- Administration ended
- Administration began
- 2024-09-10
- Administrators
- Henry Nicholas Page, Dominic Dumville
- Administrators' firm
- FRP Advisory
- Formerly
- Cellen Biotech Limited
- Incorporated
- 2019-08-21
- Location
- London
- Industry
- 21100 Manufacture of basic pharmaceutical products
Why it went into administration
- Cash flow / liquidity pressure
- Sustained trading losses
- Parent or group failure
- Regulatory change or action
From the administrators' statement
The Companies continued to trade at a loss and were burning through remaining cash. The director anticipated that the Companies would have insufficient funds to continue to trade and as such started to discuss further fund raising with various parties who had previously expressed an interest in investing in the Companies. Unfortunately, it became clear that such funding was unlikely to materialise in the time frames necessary and as such the director
sought advice from the companies solicitors.
M&H were first introduced to the Companies by CMS in June 2024.
Administrators' statement of proposals (2024-09-20) · Companies House register