Hypertunnel Holdings Limited (12991124): administration
- Status
- Administration ended
- Administration began
- 2024-07-23
- Administrators' firm
- Opus Restructuring
- Incorporated
- 2020-11-02
- Location
- Milton Keynes
- Industry
- 64203 Activities of construction holding companies
Why it went into administration
- Parent or group failure
From the administrators' statement
Prior to the Joint Administrators’ appointment, the Directors of the Company first contacted Paul Davis of Opus Restructuring LLP on 7 February 2024 to provide advice to the Company regarding the Groups finances and to discuss the statutory and non-statutory options available to the group. Following initial advice to the Company, the Directors made the decision to commence a period of marketing for the business and assets of the Group and engaged Opus Restructuring LLP on 21 May 2024 to assist with placing the Group into Administration should a solvent restructuring process not be possible. A sale was not achieved and following the demand received by the CLN holder, the Directors took the decision to place the Company and HTL into Administration on 22 July 2024.
No Moratorium under Part Al of the Act has been in force for the Company at any time within the period of 2 years ending with the day on which it entered Administration.
Attached at Appendix Ill is an account of the work undertaken prior to the Joint Administrators’ appointment and the costs associated with that work.
Administrators' statement of proposals (2024-09-20) · Companies House register