Featherfoot ST Stephens Limited (13383283): administration
- Status
- Administration ended
- Administration began
- 2024-07-16
- Administrators
- Mark Nicholas Ranson, Franklyn Ofonagoro
- Administrators' firm
- Opus Restructuring
- Incorporated
- 2021-05-07
- Location
- Milton Keynes
- Industry
- 64209 Activities of other holding companies n.e.c.
From the administrators' statement
Frank Ofonagoro was first introduced to the QFCH on 3 July 2024 by the LPA Receivers to discuss the options available to the QFCH should the LPA Receivers be unsuccessful in delivering their current strategy of marketing and selling the residential scheme apartments.
As explained earlier above, following the related company’s default of its loan facility with the QFCH the Company’s cross company guarantee was triggered which the Company was unable to meet, leading to the Company itself defaulting, which led to the QFCH appointing LPA Receivers to oversee the sale of the residential scheme apartments.
At the date of the Joint Administrators’ appointment the Company owed the OFCH c.£4.2m, plus any additional sums that may arise should the QFCH suffer a shortfall in relation to the related company which the Company has cross-guaranteed.
Administrators' statement of proposals (2024-09-13) · Companies House register