VGL Holdco Limited (13500300): administration
- Status
- In administration
- Administration began
- 2025-11-07
- Administrators
- Zelf Hussain, Peter David Dickens, Catherine Atkinson
- Administrators' firm
- PwC
- Incorporated
- 2021-07-08
- Location
- Leeds
- Industry
- 64209 Activities of other holding companies n.e.c.
Why it went into administration
- Creditor pressure / legal action
- Parent or group failure
From the administrators' statement
Group Overview
Holdco was the parent company of Midco, which in turn indirectly owned the Operating Group, as shown on the group structure in Schedule 1. Holdco and Midco were nontrading entities with no employees. Holdco’s only asset was its 100% shareholding in the ordinary share capital of Midco. The Operating Group is a profitable UK and Irelandbased online retail and financial services business, trading under the Very.co.uk and Littlewoods.com brands.
Holdco and Midco were incorporated in July 2021 at the time that the Lenders advanced c.£280m to Midco via the Midco Facility, which Holdco guaranteed. Holdco and Midco were incorporated specifically to borrow (Midco) and guarantee (Holdco) the Midco Facility. All obligations and indebtedness to the Lenders are secured under the Midco Facility. GLAS holds fixed and floating charge security over the assets of Midco and Holdco, as the security agent of the Lenders.
Administrators' statement of proposals (2026-01-07) · Companies House register