Agventure Farms Ltd (12576594): administration
- Status
- Administration ended
- Administration began
- 2023-12-08
- Administrators' firm
- Cba Business Solutions
- Incorporated
- 2020-04-28
- Location
- Leicester
- Industry
- 01130 Growing of vegetables and melons, roots and tubers
Why it went into administration
- Creditor pressure / legal action
- Property / lease costs
- Energy costs
From the administrators' statement
Creditors should note that, unless otherwise stated, this section of my proposals has been prepared based on information provided to me by the directors of the Company and not from my personal knowledge as Administrator.
The Company was incorporated in April 2020, as a start-up business intending to be a pioneering agritech company, providing innovative solutions to make vertical farming accessible to all, and allowing for a more localised method of food production. The Company operated from two trading premises in Fareham, Hampshire and sought to capitalise on the growing market with the goal to become a market leader in Europe.
The Company raised significant funds from investors under the Government's Enterprise Investments Scheme ("EIS"), which offered tax benefits to investors. Since inception, the Company focused on developing proprietary technology, integrating with existing technology to create efficient vertical farming systems. The Company developed modular contained farms, seeking to construct three semicommercial farms throughout the UK.
Administrators' statement of proposals (2024-01-31) · Companies House register