UK administrations update: February 17 - 23

Since our last update, the following businesses have been confirmed as having fallen into administration. All dates indicate when the administration was announced and not necessarily the dates on which administrators were appointed.

Marasu’s Petits Fours Limited - February 17
Marasu’s Petits Fours Limited, a manufacturer of chocolates and other confectionery based in London, fell into administration earlier this month, with Alessandro Sidoli and Jessica Barker of Xeinadin appointed as joint administrators.

The collapse came as parent company Prestat, one of the UK’s most prominent upmarket chocolatiers, was sold in a pre-pack deal to L’artisan du Chocolat.

In accounts for the year to December 31 2024, the company reported turnover of £5.1 million, down from approximately £6.4 million a year earlier, while operating losses widened from around £182,000 to slightly under £1.5 million.

At the time, its fixed assets were valued at £839,000 and current assets at £2.7 million, but net liabilities exceeded £5 million.

O&H Vehicle Conversions Limited - February 17
O&H Vehicle Conversions Limited, a Liverpool-based manufacturer of vehicles for the emergency services, fell into administration earlier this month, appointing Mark Thornton and Andrew Waudby of BDO as joint administrators.

The company had faced mounting financial pressures, like many operators in the vehicle conversion industry, while also experiencing delivery delays that further affected its income and cashflow.

Administrators were appointed after a buyer for the business could not be found, with Mark Thornton saying that a sale as a going concern was not possible. Administrators will now focus on maximising creditor returns.

In accounts for the year to February 27 2024, the company reported turnover of £22.1 million, compared to £13.9 million in the previous year, while recovering from an operating loss of £7.9 million to a profit of £5.7 million.

At the time, fixed assets were valued at £346,000 and current assets at £13.4 million, but net liabilities totalled approximately £4.1 million.

Gilks (Nantwich) Limited - February 18
Gilks (Nantwich) Limited, a mechanical and electrical installation company based in Nantwich, fell into administration earlier this month, with Martyn Rickels and Simon Farr of FRP Advisory appointed as joint administrators.

The company’s collapse was attributed to financial pressures and broader sector challenges, with efforts to find investment or alternative funding and explore restructuring options proving unsuccessful.

In accounts for the year to December 31 2024, the company reported turnover of around £10.8 million, down from £15.4 million a year earlier, while operating profits fell from around £458,000 to approximately £300,000.

At the time, its fixed assets were valued at £410,000 and current assets at £3.8 million, with net assets of around £2 million.

JRM Advanced Engineering Limited - February 18
JRM Advanced Engineering Limited, a Northamptonshire-based advanced engineering and manufacturing firm working with the motorsport, aerospace and marine sectors, fell into administration earlier this month, with Gary Pettit of PBS Business Recovery and Insolvency appointed as administrator.

Following the appointment, the administrator is now seeking a buyer for the company, which has previously had regular contracts with manufacturers including JLR and Arctic Trucks, as well as performance specialists Nissan Nismo and Subaru. Expressions of interest in the company have reportedly already been shown.

In accounts for the year to December 31 2024, the company’s fixed assets were valued at £2.7 million and current assets at £238,000, but net liabilities stood at £6.6 million.

Tarn (Mornings Mill) Limited - February 19
Tarn (Mornings Mill) Limited, a housebuilder based in London, fell into administration earlier this month, with Milan Vuceljic and Michael Solomons of Moorfields appointed as joint administrators.

In accounts for the year to March 31 2025, the company’s assets were valued at £8.7 million, but net liabilities amounted to nearly £6.1 million.

Stephen Friedman Fine Art Limited - February 19
Stephen Friedman Fine Art Limited, a London-based art gallery operator and art dealer, fell into administration earlier this month, appointing Nedim Ailyan and Glyn Mummery of FRP Advisory as joint administrators.

In accounts for the year to December 31 2023, the company reported turnover of £22.9 million, down from £28.2 million a year earlier, while falling from an operating profit of £1.9 million to a loss of around £1.7 million.

At the time, its fixed assets were valued at approximately £6.4 million and current assets at £11.8 million, with total equity of £3.5 million.

FK Group Limited - February 20
FK Group Limited, a facades contractor based in Cheshire, fell into administration earlier in February, alongside subsidiaries FK Facades Limited and FK Construction Limited. David Hopkins and Paul Stanley of BTG Begbies Traynor were appointed as joint administrators of the three companies.

Like much of the broader construction industry, the group was reported to have faced major headwinds, including significant inflationary pressure following the COVID-19 pandemic.

Following the appointment of the joint administrators, 57 staff lost their jobs, while 54 roles were transferred to Keenan Holdings, an aluminium and glazing manufacturer and installer based at the same address as the group.

Joint administrator David Hopkins said that this represented a “significant restructuring of the Group’s assets and operations”. Hopkins added that the restructuring would also include efforts to realise Group assets for the benefit of creditors.

In accounts for the year to March 31 2024, FK Group Limited reported turnover of £100.6 million, down from £131.4 million a year earlier, while operating losses widened from around £7,000 to more than £5.3 million.

At the time, its fixed assets were valued at £7 million and current assets at £30.8 million, while net assets amounted to £9.2 million.

Huthwaite Solar Farm Limited - February 20
Huthwaite Solar Farm Limited, a Devon-based solar farm operator, fell into administration last week, with Benjamin Wiles and Philip Dakin of Kroll Advisory appointed as joint administrators.

In accounts for the year to March 31 2024, the company reported turnover of around £378,000, down from £4.9 million a year earlier, while falling from an operating profit of £1.1 million to a loss of nearly £470,000.

At the time, fixed assets were valued at £3.4 million and current assets at £252,000, but net liabilities exceeded £682,000.

Jerram Falkus Construction Limited - February 20
Jerram Falkus Construction Limited, a construction contractor based in London, fell into administration last week, with Allan Kelly and Shaun Hudson of FRP Advisory appointed as joint administrators.

The company, which was working on major ongoing projects with Tower Hamlets Council and Kew Gardens, had previously reported facing significant financial problems resulting from pre-inflation fixed-price contracts and project delays that impacted post-inflation-priced contracts.

In accounts for the year to July 31 2024, it reported turnover of £47.6 million, up from £45 million a year earlier. Having fallen to an operating loss of around £6.3 million the previous year, the company cut operating losses to £55,000 and posted a pre-tax profit of £37,000.

At the time, fixed assets were valued at around £1 million and current assets at £26.7 million, with net assets amounting to approximately £7.1 million.

Find out more about Jerram Falkus Construction’s collapse

Artemis Interior Services Limited - February 20
Artemis Interior Services Limited, a London-based fit-out and refurbishment contractor, fell into administration earlier this month, with Andrew Pear and Michael Solomons of Moorfields appointed as joint administrators.

In the year to December 31 2024, the company reported turnover of £21.5 million, down from £40.8 million a year earlier, while falling from an operating profit of £69,395 to a loss of around £2.1 million.

The company attributed this performance, which it said was the first time in its history that it had incurred losses, on “two challenging projects which resulted in significant losses.”

At the time, its assets were valued at around £7.6 million, with net assets amounting to £242,000.

Koko Networks (UK) Limited - February 20
Koko Networks (UK) Limited, a Harrow-based firm that markets and sells carbon credits sourced from a project developer based in Kenya, fell into administration last week with Adam Seres, Rachael Wilkinson and Mark Banfield of PwC appointed as joint administrators.

In the year to December 31 2024, the company reported turnover of around £40 million, up from £1.8 million a year earlier, while cutting pre-tax losses from £90 million to £14 million. At the time, net liabilities exceeded £104.5 million.

Global Counsel Limited - February 20
Global Counsel Limited, a London-based strategic advisory business, fell into administration last week, with William Wright and Stephen Absolom of Interpath Advisory appointed as joint administrators.

The firm was founded by Lord Peter Mandelson and its collapse was attributed to customers cutting ties with the business following the revelations about the extent of his association with Jeffrey Epstein.

In accounts for the year to December 31 2024, the company reported turnover of £21.6 million, up from £16.2 million a year earlier, while moving from an operating loss of £1.2 million to a profit of around £1.1 million.

At the time, its fixed assets were valued at around £523,000 and current assets at £6.7 million, but net liabilities totalled approximately £144,000.

Euroview Architectural Glass Limited - February 23
Euroview Architectural Glass Limited, a Witham-based manufacturer of insulated glass units for the glazing industry, fell into administration last week, with Robert Ferne and Jeremy Karr of BTG Begbies Traynor appointed as joint administrators.

In accounts for the year to December 31 2023, the company reported turnover of £18.5 million, up from £17.2 million a year earlier, while operating profit increased from £360,629 to around £768,000.

At the time, its fixed assets were valued at approximately £2.5 million and current assets at £7.5 million, while net assets totalled £4.4 million.

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