Alcova Asset Management LLP (OC371035): administration
- Status
- Administration ended
- Administration began
- 2023-12-07
- Administrators' firm
- Quantuma
- Incorporated
- 2011-12-22
- Location
- Watford
Why it went into administration
- Cash flow / liquidity pressure
From the administrators' statement
The LLP’s Members were referred to Quantuma Advisory Limited by Hereford Capital Ltd on 5 July 2023 to help advise on the options available for the LLP, as it was deemed to be insolvent, Quantuma Advisory Limited were subsequently instructed in September 2023.
Following a review of the financial position together with various discussions with the LLP’s COO, it was established that the LLP was insolvent on both balance sheet basis and cash flow basis, as the LLP could not pay its debts as and when they fell due.
A review of the LLP’s cash-flow revealed that there would be insufficient working capital available to allow the LLP to continue to trade in the medium term in order for a purchaser to be found.
Administrators' statement of proposals (2024-02-02) · Companies House register