The HOW Development 2 Limited (12961734): administration
- Status
- In administration
- Administration began
- 2024-05-14
- Administrators
- William Innes, Benjamin John Wiles
- Administrators' firm
- Kroll
- Incorporated
- 2020-10-20
- Location
- London
- Industry
- 41100 Development of building projects
From the administrators' statement
The Company has experienced a number of issues, both financially and commercially since June 2023 which resulted in significant overrun on both cost and timing relating to the Development.
The Directors of the Company sought further financial investment for the Development, however, due to ongoing legal disputes between several parties, funding was unable to be secured.
The Secured Creditors throughout this period agreed to provide funding to the Company on several occasions so that the Development could continue as planned. However, the Company’s financial position did not improve, and a lack of progress had been made on the Development considering that significant funding had already been advanced by the Secured Creditors to the Company.
Administrators' statement of proposals (2024-07-12) · Companies House register