Tue, 22 Jul 2025 | 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.
Nelson’s Distillery & School Limited - July 15
Nelson’s Distillery & School Limited, an Uttoxeter-based artisan spirits brand, fell into administration earlier this month, with Martin Williamson of IPD appointed as administrator.
The company was launched in 2016, gaining prominence with its flagship gin and rum products, as well as collaborations with high-profile figures such as Michel Roux Jr and its 14-station gin school.
However, it experienced operational disruption following the unexpected death of founder Neil Harrison earlier this year and was placed into administration following a formal review.
The administrator is now seeking a sale of the business and assets by July 31 2025, with expressions of interest and indicative offers required to have been submitted by 5:00 PM on Monday July 21.
In accounts for the year to December 31 2024, the company’s fixed assets were valued at around £232,000 and current assets at nearly £363,000. Net liabilities, however, exceeded £570,000.
Find out more about the collapse of Nelson’s Distillery
David Phillips Furniture Group - July 15-16
David Phillips Furniture Group, a major London-headquartered furnishing and fit-out specialist, fell into administration last week, with Samuel Birchall and Howard Smith of Interpath Advisory appointed as joint administrators to several companies within the group.
Despite the group’s prominence as a provider of furnishings, administrators said that financial performance had been hampered by margin pressures and the downturn in the UK construction sector. The business continued to experience financial pressure despite efforts to improve efficiency and cashflow.
An accelerated options process was undertaken, including efforts to secure a sale or refinancing, but no solvent option proved to be available, leading to the appointment of administrators to David Phillips Furniture Limited, David Phillips (FF&E) Limited and David Phillips (Rental) Limited.
The group’s main trading operations ceased, with the joint administrators exploring options for a sale of the business and assets, including the brand.
In the year to March 31 2024, David Phillips Furniture Limited reported turnover of £28.4 million, up from £23.6 million a year earlier, and moved from a post-tax loss of £3 million to a profit of close to £2.3 million. At the time, however, its net liabilities exceeded £16.6 million.
David Phillips (FF&E) Limited, meanwhile, reported turnover of £12 million, up from around £11 million, but fell to a post-tax loss of nearly £180,000. The business’ total equity at the time was around £3.3 million.
David Phillips (Rental) Limited reported turnover of £3.3 million, down from £3.9 million, while post-tax profits fell from around £230,000 to £183,000. Its net liabilities exceeded £750,000.
Find out more about the collapse of the David Phillips Furniture Group
Adarma Limited - July 17
Adarma Limited, a cybersecurity firm based in Edinburgh, fell into administration last week, with Alistair McAlinden and William Wright of Interpath Advisory appointed as joint administrators.
The company, which was founded in 2009, had expanded to become one of the UK’s leading cybersecurity providers, with 176 staff working across offices in Edinburgh and London and a client base spanning the banking and luxury goods industries.
However, administrators said that the company collapsed following the loss of a major customer, which put pressure on its cashflow. Efforts to raise the fresh investment or secure a solvent sale of the business proved unsuccessful.
The business ceased trading upon the appointment of the joint administrators, with 173 staff made redundant and the three remaining employees retained to assist in winding up the business.
In accounts for the year ending December 31 2023, Adarma reported turnover of £44.7 million, down from £47.4 million the previous year, and saw its post-tax losses widen from around £10,000 to slightly over £80,000.
At the time, fixed assets were valued at £2.2 million and current assets at £22.6 million, with net assets amounting to £15.3 million.
Find out more about Adarma’s administration
Ziglu Limited - July 18
Ziglu Limited, a cryptocurrency trading and fiat banking services provider, fell into special administration earlier this month, with David Shambrook and Damian Webb of RSM UK Restructuring appointed as joint special administrators.
In accounts for the year to December 31 2023, the company reported turnover of slightly over £104,000, down from around £865,000 a year earlier, while cutting its post-tax losses from £15.8 million to £4.4 million.
At the time, its fixed assets were valued at £5.7 million and current assets at slightly over £6 million, but net liabilities exceeded £3.1 million.
Menrad Optics Limited - July 19
Menrad Optics Limited, an opticians based in Newbury, fell into administration earlier this month, with Craig Johns and Jason Elliott of Cowgills appointed as joint administrators.
In accounts for the year to December 31 2023, the company’s assets were valued at close to £450,000, but net liabilities stood at more than £1.3 million.
Franklyn Yates Engineering Limited - July 22
Franklyn Yates Engineering Limited, a Derbyshire-based engineering firm, fell into administration last week, appointing Tyrone Courtman and Gareth Harris of RSM UK Restructuring as joint administrators.
The company, which was founded in 1999, was acquired by the Greenbank Group in 2020, shortly before the COVID-19 lockdown. It operates as a mechanical, electrical, instrumentation, control and automation (MEICA) specialist across a broad range of sectors.
In accounts for the year to December 31 2023, its assets were valued at around £5 million, with net assets standing at slightly under £2 million.
Busaba Eathai Limited - July 22
Busaba Eathai Limited, a chain of modern Thai restaurants, fell into administration last week, with Neil Bennett and Alex Cadwallader of Leonard Curtis appointed as joint administrators.
In accounts for the year to September 17 2023, the company reported turnover of nearly £21.1 million, down marginally from the previous year, while cutting its post-tax losses from around £3.1 million to £1.8 million.
Directors stated that the company had experienced a 2 per cent LFL sales decline, with footfall in London impacted by the cost-of-living crisis, which coincided with significant input cost inflation for food, employees and energy.
At the time, the company’s fixed assets were valued at close to £3.1 million and current assets at £2.2 million. Its net liabilities, however, stood at £26.1 million.
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