# Digme At Home Ltd (12843885)

> Why UK company 12843885 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/12843885

- **Status:** Administration ended
- **Administration began:** 2022-02-16
- **Administrators:** Christopher James Farrington, Simon Jagger
- **Administrators' firm:** ReSolve
- **Incorporated:** 2020-08-28
- **Location:** London
- **Industry:** 77210 Renting and leasing of recreational and sports goods

## Why it went into administration

- COVID-19
- Property / lease costs

## From the administrators' statement

Digme Fitness Limited was initially incorporated in June 2015 to provide pay-as-you-go fitness services, including yoga, HITT and indoor spin classes, and soon expanded to offer services at six sites, including one in Oxford.

After a several years of trading, Digme Fitness Limited was profitable and in January 2020 it went on to secure an additional two leasehold sites (at Covent Garden and Coleman Street) through an acquisition of what is now known as Digme Denali Holdings Limited. This expanded the number of studios from which Digme Fitness Limited operated, from six to eight, however Digme Fitness Limited continued to operate as the principal trading company.

In order to fund the acquisition of the Covent Garden and Coleman Street sites, Digme Fitness Limited issued a £1.9m Secured Convertible Loan Note in January 2020, secured by the debenture registered at the same time. Based on the trading forecast it was envisaged this would be repaid in the summer of 2020 via a new equity raise following the anticipated launch of Digme Fitness at these new sites.

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/12843885/filing-history/MzMzMDgyOTkyMWFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/12843885

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