Savalas Ltd. (SC195861): administration and why it failed

Savalas Ltd. (SC195861): administration

Status: Administration ended
Administration began: 2024-08-08
Administrators: Paul Dounis, Mark Harper
Administrators' firm: RSM
Incorporated: 1999-05-03
Location: Edinburgh
Industry: 90020 Support activities to performing arts

Why it went into administration

HMRC / tax arrears
Cash flow / liquidity pressure
Creditor pressure / legal action

From the administrators' statement

Relevant extracts from the company’s audited and draft financial statements and management accounts are summarised below:

Period ending FY22 (E) FY23 (£) FY24 (E) Turnover 1,160,725 1,425,264 1,351,946 Gross profit 803,501 1,076,157 1,104,882 Net profit / loss 63,201 (28,927) (342,409)

Administrators' statement of proposals (2024-08-15) · Companies House register

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