From the administrators' statement

3.1 Director, Mr Andrew Lynds, had a business partner who left the Company at the start of 2024. This had a detrimental impact. In the summer of 2024, Mr Lynds became concerned that the Company was running low of cash and that the prospects for future work had slowed down. Further, the Company was in dispute with a ‘difficult client’ which was causing him stress and the Company further cashflow issues.

3.2 On 8 July 2024, the Director was taken to hospital where he remains in a critical condition, today. Shortly prior to this, Mr Lynds had already approached Insolvency Practitioners from Oury Clark to provide initial advice regarding the options for the Company as he was concerned about the solvency of the business.

3.3 Mr Lynds wife approached Oury Clark for advice regarding the options available when Mr Lynds was in hospital as the Company was without any

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LC UK Developments Ltd (13475339)

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