Tue, 03 Mar 2026 | ADMINISTRATION
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.
GB Labs Limited - February 24
GB Labs Limited, a Hampshire-based media storage solutions provider, fell into administration in mid-February, with Stewart Goldsmith and Nicole Layland of Leonard Curtis appointed as joint administrators.
In accounts for the year to September 30 2024, the company’s fixed assets were valued at around £814,000 and current assets at £1 million, with net assets amounting to £86,000.
Zetta Genomics Limited - February 24
Zetta Genomics Limited, a Cambridge-based biotechnology company, fell into administration last month, with Hayley Watson and Richard Bloomfield of FRP Advisory appointed as joint administrators.
In accounts for the year to December 31 2024, the company’s fixed assets were valued at £30,423 and current assets at approximately £664,000. However, the firm’s net liabilities at the time exceeded £4.2 million.
Amber Bridging Limited and Zircon Bridging Limited - February 25
Amber Bridging Limited and Zircon Bridging Limited, asset-based funding vehicles of bridging lender Market Financial Solutions (MFS), fell into administration last week, with Benjamin Browne, Alastair Beveridge and Simon Appell of AlixPartners appointed as joint administrators.
The two companies had separately filed for an administration order against MFS, claiming irregularities in payments due to their accounts. MFS has been accused of fraud, with allegations including the potential double-pledging of assets, and has also been placed into administration, with the same joint administrators from AlixPartners appointed.
In accounts for the year to December 31 2024, Amber Bridging Limited reported turnover of £55.8 million, up from £25.6 million a year earlier, while operating profits grew from £1.1 million to around £10.8 million. Current assets were valued at £610.7 million, but liabilities meant that total equity amounted to just £3.8 million.
During the same period, Zircon Bridging Limited reported turnover of £46.8 million, up from £32.5 million a year earlier, while operating profits increased from £3.1 million to around £9.5 million. The firm’s current assets were valued at £467.2 million, with total equity of £6.1 million.
W J Bennett & Son Limited - February 25
W J Bennett & Son Limited, a warehousing and haulage firm based in Lasham, fell into administration last month, appointing David Taylor and Paul Ellison of KRE Corporate Recovery as joint administrators.
In accounts for the year to October 31 2024, the company’s fixed assets were valued at £2.1 million and current assets at around £694,000, with net assets amounting to slightly over £137,000.
Route2Sustainability Limited - February 25
Route2Sustainability Limited, a sustainability accounting system provider, fell into administration last week, with Steven Currie and Sophie Murcott of Currie Young appointed as joint administrators.
In accounts for the year to February 29 2024, the company’s fixed assets were valued at £1.4 million and current assets at around £657,000, with net assets amounting to slightly over £1 million.
Frog Bikes Limited - February 26
Frog Bikes Limited, a Berkshire-based manufacturer of children’s bicycles, fell into administration last month, with Anthony Wright and Alastair Massey of FRP Advisory appointed as joint administrators.
The company’s collapse was attributed to factors including a post-pandemic correction in the cycling market, rising operational costs, more complex international trading and tighter financial conditions, which led to significant financial pressure.
In the year ending February 29 2024, the company’s turnover fell from around £9.5 million to £5.9 million, but it recovered from an operating loss in the previous year to record a profit of around £351,000.
At the time, the company’s fixed assets were valued at £541,159 and current assets at around £6.4 million, with total equity amounting to £1.2 million.
Find out more about efforts to find a buyer for Frog Bikes
Rjay Developments (Longcot) Limited - February 26
Rjay Developments (Longcot) Limited, a construction developer based in Leicester, fell into administration last month, with Lauren Wentworth and James Saunders of KR8 Advisory appointed as joint administrators.
In accounts for the year to February 28 2025, the company’s current assets were valued at £3.9 million, but net current liabilities amounted to around £25,000.
Orbital Express Launch Limited - February 26
Orbital Express Launch Limited, a Scotland-headquartered orbital launch and space rocket manufacturer trading as Orbex, fell into administration last month, with Chad Griffin, Geoffrey Rowley and Graham Smith of FRP Advisory appointed as joint administrators.
The company’s collapse, which came just months ahead of planned test launches of its Prime microlauncher, followed failed efforts to raise funds or secure a sale that would have safeguarded its future.
In accounts for the year to December 31 2023, it reported an operating loss of around £17.4 million, up from £8.7 million a year earlier, while post-tax losses widened from £8.2 million to £16.2 million. At the time, fixed assets were valued at £5.2 million and current assets at £18.4 million, with total equity amounting to around £16.3 million.
Find out more about Orbex’s administration
MTE Heat Treatment Limited - February 26
MTE Heat Treatment Limited, a Leeds-based metal heat treatment and gear cutting solutions company, fell into administration last week, with Lee Van Lockwood and Gareth Harris of RSM UK Restructuring Advisory appointed as joint administrators.
In accounts for the year to December 31 2024, the company’s fixed assets were valued at £1.9 million and current assets at £1.7 million, with net assets amounting to approximately £1.8 million.
Alastair Dick Tarmac Limited - February 27
Alastair Dick Tarmac Limited, a Kilmarnock-based road construction company, fell into administration last month, with Kevin Mapstone of Begbies Traynor appointed as administrator.
In accounts for the year to April 30 2023, the company’s fixed assets were valued at around £729,000 and current assets at just under £2.1 million, with total equity amounting to approximately £1.5 million.
Wild Child Animation Limited - February 27
Wild Child Animation Limited, a Stirling-based animation company, fell into administration last week, with Gordon McIntyre and Donald McKinnin of Wbg Services appointed as joint administrators.
The company, Scotland’s biggest animation provider, has worked with the likes of Cartoon Network, Disney and Warner Brothers, and was in the process of working on the upcoming animated series Zog with Magic Light Pictures.
Its collapse was attributed to the effect of animation market uncertainties, particularly resulting from the impact of AI and the fact that a number of national broadcasters have opted against commissioning new content, leading to a crunch in available work.
The joint administrators will now seek to find a buyer for the company, which reportedly generated turnover of £5.7 million in 2025.
Find out more about the collapse of Wild Child Animation
GAME Retail Limited - March 2
GAME Retail Limited, a specialist video game retailer headquartered in Manchester, fell into administration last week, with James Saunders and Lauren Wentworth of KR8 Advisory appointed as joint administrators.
The collapse of the company, which is owned by Frasers Group, comes just weeks after it announced that it would close its remaining standalone stores. Once a mainstay of the UK high street, the changing face of both physical retail and the gaming industry meant that its standalone stores had been whittled down to just three locations. The brand, however, continued to operate online and via its 200+ concession stores.
In accounts for the year to April 27 2024, the company reported turnover of £222.5 million, down from £287.2 million in the 53 weeks to April 29 2023, while falling from an operating profit of £7.9 million to a loss of around £3.3 million.
At the time, its non-current assets were valued at £10.6 million and current assets at £108.4 million, with total equity amounting to £29.5 million.
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