Thu, 28 Feb 2019 | ADMINISTRATION
A property development company based in Leicester has fallen into administration after experiencing a string of financial difficulties, forcing the business to take steps to handle the insolvency.
A1 Alpha Properties (Leicester) Limited, trading from Gateshead, has called in business advisory firm Quantuma LLP to handle the administration process, with partners Nick Simmonds and Paul Zalkin appointed as joint administrators.
Established in 2001, the company managed the development of residential, commercial and retail construction and assets. Amongst a range of property types, student accommodation, serviced apartments and retail units were but some of the developments in their varied portfolio which spanned the whole of the UK.
Although Quantuma noted that A1 Alpha Properties (Leicester) had a successful turnover of £1 million, the business was faced with a series of financial difficulties as a result of unpaid monies owed to the company’s rental investors at the beginning of this year.
The business was forced to call in administrators on 21 February 2019, but as it has no members of staff, there will be no redundancies because of the administration process.
Simmonds commented on the insolvency, saying: Due to ongoing financial difficulties, I can confirm that Quantuma has been appointed as administrators at A1 Alpha Properties (Leicester) Ltd.
“As part of our role we will regularly update investors on our progress. We are currently in the process of assessing the case, with the aim of achieving the optimum outcome for all stakeholders.”
Click here to view the A1 Alpha Properties (Leicester) Limited listing for full details.
For more news stories about administrations click here. For all our administrations listings, click here.
This well-established telecom and communication solutions provider, operating since 1998 in the UK, offers a unique opportunity for acquisition, with the added flexibility of being relocatable.
An established car rental company with an integrated MOT and servicing centre is available for acquisition in Middlesbrough, presenting a unique opportunity for those interested in the automotive industry.
Discover a unique opportunity to acquire a profitable automotive finance business with significant growth potential. With a lean, scalable model and strong digital presence, the company benefits from high customer acceptance rates and robust margins,...
05
|
Sep
|
Administrators exploring sale after collapse of Bodycare | ADMINISTRATION
Bodycare, a high street retailer of branded health and beaut...
05
|
Sep
|
Pets Choice acquires Kennelpak brands out of administration | BUSINESS SALE
Pet food manufacturer Pets Choice has acquired a number of p...
05
|
Sep
|
PE-backed legal services group completes investment in London firm | BUSINESS SALE
Legal services group BBS Law has completed an investment in ...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
We can help you capitalise on insolvent businesses. We list UK businesses in administration, liquidation and with winding up petitions daily. Ensuring our members never miss out on an opportunity
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.