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.
The business for sale repairs, services and sells a variety of both industrial and domestic appliances such as, fridges, freezers, cookers etc. Impressive Financial Figures. Well-Established. Great Reputation. Friendly and Professional Service. High...
LEASEHOLD
Large commercial and domestic client base. Great reputation. Purpose-built unit. Competitively priced array of services. Scope for further growth. Offers invited.
LEASEHOLD
Largest / busiest garage in Marlborough. Two, prominently placed, units. Most nearly new equipment within last 5 years (owned outright & included in sale). Long-standing in community (“go-to garage”). Excellent financial figures. Offers invited.
LEASEHOLD
|
13
|
|
Sep
|
AFH Financial Group acquires two firms for £7.2 million | BUSINESS SALE
AFH Financial Group, a listed wealth management firm headqua...
|
12
|
|
Sep
|
Lucid Group completes acquisition of North West-based healthcare consultancy | BUSINESS SALE
Healthcare communication specialists, Lucid Group, has succe...
|
11
|
|
Sep
|
Controversial green energy firm goes bust and forced to appoint administrators | ADMINISTRATION
A small energy supplier providing green energy to 29,000 hou...
Sign up to receive our acquisition alert emails to get your FREE guide
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