Degen Labs Ltd (13995570): administration
- Status
- Administration ended
- Administration began
- 2025-06-02
- Administrators
- Emma Dowd, Kelly Burton
- Administrators' firm
- FRP Advisory
- Incorporated
- 2022-03-22
- Location
- Sheffield
- Industry
- 11010 Distilling, rectifying and blending of spirits
Why it went into administration
- Cash flow / liquidity pressure
- Sustained trading losses
- Funding withdrawn / unable to refinance
- Rising costs / inflation
- Supply chain disruption
- Competition / price pressure
From the administrators' statement
The Company was incorporated on 22 March 2022 under the control of its current director, Samuel Verghese. Samuel Verghese is the Company’s sole beneficial owner, having the benefit of 83.05% of the Company’s share capital.
Thomas Patrick Webster and Gabreiele De Propris consequently joined the board of directors on 1 April 2002 and 22 July 2022 respectively.
From its inception, under its trading name of Degen Distillery, the Company traded within the spirits industry, in respect of the distilling, rectifying and blending of spirits with the objective to create a premium vodka and, consequently, a lifestyle spirits brand powered by next-gen technology.
Administrators' statement of proposals (2025-07-31) · Companies House register