AAT Events Limited (12762684): administration
- Status
- Administration ended
- Administration began
- 2022-06-06
- Administrators
- Michael Stephen Elliot Solomons, Richard Keley
- Administrators' firm
- Moorfields
- Incorporated
- 2020-07-23
- Location
- London
- Industry
- 93199 Other sports activities
Why it went into administration
- COVID-19
- Weak consumer demand
- Funding withdrawn / unable to refinance
From the administrators' statement
The Company was incorporated on 23 July 2020 and operated from leased premises at 7 - 9 The Avenue, Eastbourne, East Sussex, BN21 3YA, providing the specialist planning, organising and delivering of mass participation running and triathlon events throughout the UK. It remained dormant until early 20271 then in late 2021 acquired the business and assets of The Race Organiser Limited (“TRO”) and F3 Events Limited (“F3”). These entities were placed into Administration on 5 October 2021, with the acquisitions occurring on the same date. Both TRO and F3 had a common sole director and ultimate beneficial owner as the Company in Craig Thornton.
Following the easing of Government restrictions towards the end of 2021, introduced in response to the global pandemic, it was anticipated that consumer interest in mass participation events would increase to previous levels. Funding of £225,549 was obtained from Let's Do This, a company offering a platform for event organisers to market events and for consumers to book tickets directly for a wide range of mass participation running, cycling and swimming events. This funding was to be used as working capital to allow the business to trade in the short term until participant entries reached forecast levels based on pre-COVID events.
Unfortunately, potentially as a result of the rising cost of living or changed habits post COVID entries did not reach the forecast levels. Accordingly, the funding that had been obtained was insufficient to support the Company on an ongoing basis and further funding could not be secured.
Administrators' statement of proposals (2022-06-24) · Companies House register