# ECS Peterborough 1 LLP (OC398723)

> Why UK company OC398723 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/OC398723

- **Status:** Administration ended
- **Administration began:** 2021-11-12
- **Administrators:** Gavin George Scott Park, Matthew James Cowlishaw
- **Administrators' firm:** Teneo
- **Incorporated:** 2015-03-10
- **Location:** Birmingham

## Why it went into administration

- Funding withdrawn / unable to refinance
- Rising interest rates

## From the administrators' statement

The Partnership has been unable to service its secured debt obligations in respect of the PCC Loan. The PCC Loan was intended to be required for a short period only until a refinancing was completed, and carries an interest rate of 6%. After payment of interest, limited funds have been available for amortisation of the loan principal and no material amortisation has been achieved since the PCC Loan was drawn down.

Steps taken to remedy/turnaround

The Partnership and PCC have explored various initiatives to remedy the situation including:

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/OC398723/filing-history/MzMyMTAyMjEwMGFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/OC398723

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