Thu, 29 Aug 2019 | ADMINISTRATION
Listen Limited, a telephone fundraising agency headquartered in London, has collapsed into administration after citing “a number of years of challenging trading” as the reason for its downfall.
Its director, Ben Smith, stated that putting the company in administration was the only way in which it could maximise the financial returns to its creditors.
Over the period of 10 years, Listen Ltd claimed to have raised more than £250 million for charities; in spite of the administration, no money is owed to the charities for which it was fundraising.
Accounts filed with Companies House reported that the agency owed HMRC £319,000, to the leasing company Stadium Investments £325,000, and to the parent company TCLLH £7,000. In addition to this, the company entered into a CVA in February 2019 to pay off approximately £650,000 in debts in a bit to continue its trading capabilities.
A statement from the company said: “It is with great sadness that today we announce the closure of Listen Ltd, as we bring the business to a close after a number of years of challenging trading.
“After exploring all possible actions to continue the company, attract outside investment and widen our offering to our clients, it has become clear that the business cannot continue to operate in the current market.
“We’d like to thank our clients, our dedicated and skilled management team and the thousands of fundraisers who have walked through our doors in the past decade for everything they have done to make Listen the friendly, supportive and collaborative environment that it was.”
Listen Ltd has said it will work alongside its database of charities to return all the data in due course.
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