IPM SPV Three Limited (13641984): administration
- Status
- Administration ended
- Administration began
- 2024-05-17
- Administrators
- Gordon Thomson, David Frederick Shambrook
- Administrators' firm
- RSM
- Incorporated
- 2021-09-24
- Location
- London
- Industry
- 46690 Wholesale of other machinery and equipment
Why it went into administration
- Loss of a key customer, supplier or contract
From the administrators' statement
The Company operated as a provider of wholesale stock funding principally for bicycle dealers with its main customer being Orbea Cycles. The business commenced trading in July 2022. The Company ceased trading in January 2024. The Company utilised a serviced office at Gibson House, Ermine Business Park, Huntingdon PE29 6XU.
The Company's sole director and a person with significant control is Mr Niall Mason (‘Mr Mason’). Mr Mason owns and/or controls other companies involved in providing similar funding, as well as companies that employ staff and provide infrastructure and IT services to those finance companies. Mr Mason was solely responsible for the operation and management of the Company.
One of Mr Mason’s other companies, Emtac Limited (‘Emtac’), provided staff, IT and other support to the Company although all management operations were undertaken by Mr Mason.
Administrators' statement of proposals (2024-07-15) · Companies House register