Market Place Solutions Worldwide LLP (OC385412): administration
- Status
- Administration ended
- Administration began
- 2024-02-09
- Administrators
- Emma Mifsud, Mark Nicholas Ranson
- Administrators' firm
- Opus Restructuring
- Formerly
- Entertainment Alliance Direct LLP
- Incorporated
- 2013-05-24
- Location
- Milton Keynes
From the administrators' statement
Opus was introduced to the members of MPS on 2 February 2024, by Squire Patton Boggs, a firm of solicitors who had been advising MPS with regards to its financial position. Given the financial situation of both MPS and EA, SRIL had determined that no further funds would be invested into either business and without further funding, the Company could no longer continue to trade. A decision was made by MPS to stop allowing orders to be placed on various online platforms after 5pm on Friday 2 February 2024.
The various insolvency options were reviewed by Opus and discussed with the members and it was concluded that the most appropropriate route would be an administration as it would most likely produce the best outcome to creditors. The administration appointment process was also the most timely as asset realisations could take place without delay, safeguarding the position for creditors of the estate.
On 8 February 2024, a Notice of Intention to Appoint Administrators was filed and served on the Qualifying Floating Chargeholder, SRIL. Consent for the appointment was received on the same day.
Administrators' statement of proposals (2024-04-15) · Companies House register