UK administrations update: June 17 – 24

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.

Nicol & Andrew Limited – June 17
Nicol & Andrew Limited, a Wycombe-based machining and repair services firm, fell into administration earlier this month, with Joanne Milner and David Buchler of Buchler Phillips appointed as joint administrators.

In accounts for the year to March 31 2024, the firm’s fixed assets were valued at close to £70,000 and current assets at £1.6 million, with net assets amounting to slightly over £845,000.

Videscape Limited – June 17
Videscape Limited, an online photo-sharing site trading as Clickasnap, fell into administration earlier this month, with Matthew Hoy and Shane Biddlecombe of TruSolv appointed as joint administrators.

In accounts for the year ending August 31 2023, the company reported fixed assets of around £343,000 and current assets of slightly more than £1 million, with net assets standing at roughly £460,000.

Watkins Drinks Limited – June 18
Watkins Drinks Limited, a dairy-free alternative milk brand trading as Mighty Drinks, fell into administration last week, with James Clark and Howard Smith of Interpath Advisory appointed as joint administrators.

The Leeds-based company had faced mounting headwinds in recent years, including shift consumer habits, the cost-of-living crisis and rising costs. Despite exploring investment options, directors decided a solvent solution was not possible.

The joint administrators are now seeking buyers for the business and its assets, including the Mighty brand and related IP.

In accounts for the year to December 31 2023, the company’s fixed assets were valued at slightly more than £900,000 and current assets at approximately £3 million, with net assets amounting to £3.2 million.

Find out more about Mighty Drinks’ administration

LF Solutions Limited – June 18
LF Solutions Limited, a Northampton-based civil engineering firm, fell into administration last week, appointing Ninos Koumettou and Amie Johnson of Begbies Traynor as joint administrators.

The company had experienced cashflow issues and difficulty paying creditor liabilities due to challenges obtaining payment from customers, as well as rising trading costs and a generally adverse economic climate.

According to the joint administrators, the company decided that a sale of the business through administration would achieve greater returns for creditors than any other option.

In accounts for the year to February 28 2024, the firm reported revenues of £20.3 million, down from £23.3 million a year earlier, along with operating profits of £323,410. At the time, fixed assets were valued at around £665,000 and current assets at around £7.2 million, with net assets of £2.2 million.

Read more about LF Solutions’ collapse

Immerse Learning Limited – June 19
Immerse Learning Limited, an Uxbridge-based Virtual Reality Enterprise platform provider, fell into administration earlier this month, with Virgil Levy of LA Business Recovery appointed as administrator.

In accounts for the year to December 31 2023, the company reported turnover of £3.4 million, up from £2.2 million, but saw pre-tax losses remain roughly level at £1.6 million. Fixed assets were valued at £224,434 and current assets at £2.2 million, but net liabilities stood at over £236,000.

JAB Property Developments Limited – June 20
JAB Property Developments Limited, a property investment company based in Montrose, fell into administration earlier this month, with Begbies Traynor’s Glasgow office lined up to handle the process.

In accounts for the year to November 30 2023, the company’s fixed assets were valued at close to £1.4 million and current assets at £1.8 million. Net liabilities, however, exceeded £328,000.

Ecoserv FM Group Limited – June 23
Ecoserv FM Group Limited, a cleaning company based in Slough, fell into administration earlier this month, with Rob Keyes and David Taylor of KRE Corporate Recovery appointed as joint administrators.

The company was incorporated in late 2022 and acquired the trade and assets of Ecoserv Group Limited, Ecoserv Cleaning Limited and Ecoserv Technical Services Limited out of administration in early 2023.

In accounts for the year to December 31 2023, the company reported turnover of £20.1 million, but fell to a loss of around £721,000. At the time, current assets were valued at £3.4 million, but net liabilities exceeded £720,000.

Andrew Plastics Limited – June 23
Andrew Plastics Limited, a plastic injection moulding company based in Skelmersdale, fell into administration last week, with Stephen Lancaster of Lucas Ross appointed as administrator.

In accounts for the year to September 30 2024, the company’s fixed assets were valued at £2.7 million and current assets at around £700,000, with net assets amounting to slightly over £1.6 million.

The Car Group Limited – June 24
The Car Group Limited, a used car dealership company based in Bury, fell into administration last week, with Craig Johns and Jason Elliott of Cowgill appointed as joint administrators.

In accounts for the year to December 31 2022, the company reported turnover of £33 million, down from around £36 million a year earlier, but saw its operating profits increase slightly from £1.47 million to £1.5 million.

At the time, its fixed assets were valued at £21.1 million and current assets at £9.4 million, with total equity amounting to nearly £7.6 million.

Dominus Chelmsford Limited – June 24
Dominus Chelmsford Limited, a real estate investment company based in Chelmsford, fell into administration last week, appointing Michael Solomons and Arron Kendall of Moorfields as joint administrators.

In accounts for the year to December 31 2023, the company’s fixed assets were valued at £27.9 million and current assets at £2.2 million, with net assets standing at around £570,000.


Click here to download our free guide on finding and buying distressed businesses and assets

Share this article

Latest Businesses for Sale

View more businesses for sale