Tue, 03 Jun 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.
Zeba Properties Limited, Sadakat Properties Limited and Zaria Properties Limited – May 28
Zeba Properties Limited, Sadakat Properties Limited and Zaria Properties Limited, property companies linked to former Bangladeshi Land Minister Saifuzzaman Chowdhury, were placed into administration last month, with Oliver Haunch and Hina Patel of Grant Thornton appointed as joint administrators.
Saifuzzaman Chowdhury was put under investigation by Bangladesh’s Anti-Corruption Commission last year over allegations of laundering money to the UK and amassing illegal wealth. Over recent years, Chowdhury reportedly built a portfolio of 260 UK properties purchased through at least eight companies, including the three that have entered administration.
In accounts for the year to June 30 2024, Zeba Properties held total assets totalling nearly £13 million, but also had net liabilities of close to £370,000. In the year ending July 31 2024, Sadakat Properties’ total assets were valued at around £8.4 million, but net liabilities exceeded £1 million. In the year ending June 30, 2024, meanwhile, Zaria Properties had around £2.7 million in total assets, but had net liabilities of approximately £613,000.
UK Labels Limited – May 29
UK Labels Limited, an Oldbury-based manufacturer of self-adhesive labels, fell into administration in May, with Roderick Butcher and Richard Goodwin of Butcher Woods appointed as joint administrators.
In accounts for the year to October 31 2023, the company’s total assets were valued at more than £1.4 million, with net assets amounting to slightly over £865,000,
C. Dugard Limited – May 30
C. Dugard Limited, a provider of CNC precision engineering equipment, fell into administration last month, with Jonathan Beard and John Walters of Begbies Traynor appointed as joint administrators.
In accounts for the year to September 30 2023, the company’s fixed assets were valued at roughly £312,000 and current assets at £5.4 million, with net assets amounting to £528,477.
Algal Omega 3 Limited – May 30
Algal Omega 3 Limited, an omega-3 oil manufacturer and supplier headquartered in Northern Ireland and operating from an advanced manufacturing facility in the Liverpool City Region, fell into administration last week, with Stuart Irwin and Richard Harrison of Interpath Advisory appointed as joint administrators.
The company utilises fermentation technology on microalgae to manufacture crude algal oil, which is then used for a range of applications. Administrators said that the company had struggled to remain competitive over recent years amid soaring production costs.
The administrators have launched an accelerated sale process in an attempt to secure a buyer for the business and assets. The firm’s manufacturing plant will remain operational in order to fulfil outstanding orders while operations are wound down.
During 2022, the company generated turnover of £15.4 million, down from £16 million a year earlier, and saw its losses widen from around £145,000 to more than £1.8 million. At the time, its net liabilities totalled more than £15.6 million.
Find out more about Algal Omega 3’s administration
Multipay Global Solutions Limited – June 2
Multipay Global Solutions Limited, a Hertfordshire-based payment solutions company, fell into administration last month, with David Acland and Lila Thomas of FRP Advisory appointed as joint administrators.
In accounts for the year to March 31 2024, the company’s fixed assets were valued at £96,150 and current assets at £2.6 million. However, its net liabilities at the time slightly exceeded £978,000.
Agform Limited – June 2
Agform Limited, an agrochemical company based in London, fell into administration in May, with Louise Longley and Julian Pitts of Begbies Traynor appointed as joint administrators.
In accounts for the year to December 31 2023, the company’s fixed assets were valued at around £2.7 million and current assets at approximately £330,000, with net assets standing at just below £2 million.
Dulson Limited – June 2
Dulson Limited, a Wrexham-based building projects developer, fell into administration last month, with Philip Reynolds and Anthony Collier of FRP Advisory appointed as joint administrators.
In accounts for the year to March 31 2024, the company’s assets were valued at £3.8 million, with net assets standing at slightly under £390,000.
Lightsky Group Limited – June 2
Lightsky Group Limited, a Bristol-based care home operator, fell into administration last month, with Paul Cooper and Paul Appleton of Begbies Traynor appointed as joint administrators.
In the year to April 30 2023, the company reported turnover of nearly £9.8 million, roughly level with the year prior, but saw EBITDA drop from £2.2 million to around £500,000 and fell from a pre-tax profit of over £300,000 to a loss of nearly £2 million.
At the time, the firm’s fixed assets were valued at £13.3 million and current assets at £28.2 million, with net assets amounting to £11.1 million.
Aidrivers Limited – June 2
Aidrivers Limited, an Uxbridge-based developer of an AI-enabled autonomous mobility platform for optimising business operations, fell into administration last week, with Paul Berkovi and Robert Crozen of Alvarez & Marsal appointed as joint administrators.
In accounts for the year to December 31 2023, its fixed assets were valued at slightly over £75,000 and current assets at close to £5 million. However, debts meant that the company’s net liabilities exceeded £2.1 million.
Step On Safely Limited – June 3
Step On Safely Limited, a Suffolk-based manufacturer of anti-slip access solutions, fell into administration last week, appointing Glyn Mummery and Emma Priest of FRP Advisory as joint administrators.
In accounts for the year ending December 31 2023, the company’s fixed assets were valued at around £325,000 and current assets at approximately £3.4 million, with net assets standing at slightly over £1 million.
Armadillo Managed Services Limited – June 3
Armadillo Managed Services Limited, an Uxbridge-based cybersecurity specialist, fell into administration last week, with Simon Carvill-Biggs and Andy John of FRP Advisory appointed as joint administrators.
In accounts for the year to February 28 2024, the company’s assets were valued at around £1.5 million, but net liabilities exceeded £186,000.
Celtic Holiday Parks Limited – June 3
Celtic Holiday Parks Limited, a company that operates a holiday park in Pembrokeshire, fell into administration last week, with Alistair Wardell and Richard Lewis of Grant Thornton appointed as joint administrators.
In accounts for the year to March 31 2024, the company’s fixed assets were valued at £13.3 million and current assets at £2.3 million, with total equity amounting to £4.3 million.
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