# Project Black Investor Newco 2 Limited (13586294)

> Why UK company 13586294 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/13586294

- **Status:** In administration
- **Administration began:** 2025-06-02
- **Administrators:** James Saunders, Michael Lennon
- **Administrators' firm:** Advisory
- **Incorporated:** 2021-08-25
- **Location:** Manchester
- **Industry:** 64209 Activities of other holding companies n.e.c.

## Why it went into administration

- Sustained trading losses
- Parent or group failure

## From the administrators' statement

KR8 Advisory Limited was formally engaged by the Companies on 16 May 2025, to provide advice in relation to the solvency of the Companies and immediate options available due to ongoing losses and its financial position.

The Joint Administrators understand that prior to the commencement of the Administrations, the Companies had been suffering significant losses for a protracted period with cashflow support provided by the Secured Creditor.

Prior to the commencement of the Administrations, it was confirmed by the Secured Creditor that cashflow support would no longer be provided and that the Companies’ were in breach of their obligations under the debentures provided in favor of the Secured Creditor. As such, the Secured Creditor subsequently sought to appoint James Saunders and Michael Lennon of KR8 Advisory Limited as Joint Administrators of the Companies.

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/13586294/filing-history/MzQ3NTM3NzgzMmFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/13586294

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.