Tue, 13 May 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.
Laseraid UK Limited – May 7
Laseraid UK Limited, an aesthetic laser supplier based in Borehamwood, fell into administration at the end of April, with Andrew Duncan and James Snowdon of MHA appointed as joint administrators.
In accounts for the year ending December 31 2023, the company’s fixed assets were valued at £2.8 million and current assets at around £567,000. However, its net liabilities at the time stood at approximately £118,000.
Mitchell’s Care Homes Limited – May 7
Mitchell’s Care Homes Limited, a care home operator based in Kingston Upon Thames, fell into administration at the start of May, with Brian Baker and Ian Robert of Moore Kingston Smith & Partners appointed as joint administrators.
In accounts for the year to March 31 2023, the company’s fixed assets were valued at around £510,000 and current assets at close to £5.9 million, with net assets standing at £4.8 million.
Rovco Limited – May 8
Rovco Limited, a Bristol-based offshore wind tech firm trading as Beam, fell into administration at the beginning of this month, with David Shambrook and Damian Webb of RSM UK Restructuring appointed as joint administrators.
The administration followed an unsuccessful equity raise and a failed attempt to secure an accelerated sale for the business and assets last month. The joint administrators are now exploring a range of options to maximise creditor returns and preserve jobs where possible.
In accounts for the year ending December 31 2023, the firm reported turnover of around £19.6 million, up from £13.6 million a year earlier. However, it fell to a loss of £8.1 million, having incurred losses of £8.7 million in 2022. At the time, fixed assets were valued at £6.5 million and current assets at around £5.7 million, with net assets amounting to £3.1 million.
Find out more about Beam’s collapse here
Oree Boulangeries Limited – May 8
Oree Boulangeries Limited, a London-based chain of Parisian-inspired bakeries, fell into administration at the beginning of the month, with Paul Cooper and Robert Ferne 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 £3.3 million and current assets at £1.4 million, with total equity amounting to approximately £2.9 million.
Stakehill Limited – May 8
Stakehill Limited, a Lancashire-based manufacturer of fabricated metal products, fell into administration earlier this month, with Sandra McAlister and Huw Powell of Begbies Traynor appointed as joint administrators.
In accounts for the year to April 30 2024, the company’s fixed assets were valued at around £405,000 and current assets at £3.7 million, with total equity standing at slightly over £13,000.
Premier Communications (Peterborough) Limited – May 9
Premier Communications (Peterborough) Limited, a Peterborough-based marketing and development firm trading as Premcom, fell into administration at the end of April, with Rehan Ahmed and Jeremy Woodside of Quantuma Advisory appointed as joint administrators.
In accounts for the year ending December 31 2023, the company’s fixed assets were valued at around £761,000 and current assets at close to £2 million, with net assets amounting to approximately £469,000.
Specialist Lift Services Limited – May 9
Specialist Lift Services Limited, a lift repair and maintenance services firm based in Sevenoaks, fell into administration at the start of May, with Andrew Bailey and Martin Armstrong of Turpin Barker Armstrong appointed as joint administrators.
In accounts for the year to April 30 2023, the company reported turnover of £13.8 million, up from £11.2 million a year earlier and reported a slight post-tax profit of around £9,000, compared to a loss of over £2 million a year earlier.
At the time, its fixed assets were valued at £1 million and current assets at close to £3.1 million. However, its net liabilities at the time exceeded £900,000.
Whisky Merchants Trading Limited – May 9
Whisky Merchants Trading Limited, an Edinburgh-based wholesaler of spirits, fell into administration earlier this month, with Stephen Hunt of Griffins appointed as administrator.
In accounts for the year to December 31 2023, the company’s total assets were valued at around £370,000. However, its net liabilities at that time exceeded £1.1 million.
Nexabiome Limited – May 9
Nexabiome Limited, a Glasgow-based company developing next generation antibiotics to tackle antimicrobial resistance, fell into administration at the start of this month, with Stuart Preston and Julie Tait of Grant Thornton appointed as joint administrators.
In accounts for the year to March 31 2024, the company reported revenue of around £671,000, down from £735,000 a year earlier, while seeing its post-tax losses increase from around £380,000 to £907,000.
At the time, the company’s assets were valued at £3.9 million and current assets at £946,000, with total equity amounting to around £4.9 million.
BNKBL Limited – May 13
BNKBL Limited, a digital banking platform trading as BANKABLE, fell into administration last week, with Michael Goldstein and Charlotte Jobling of RG Insolvency appointed as joint administrators.
In accounts for the year to December 31 2023, the company reported turnover of around £25.4 million, up from £23.8 million a year earlier. However, its losses increased significantly from £3.7 million to £9.4 million.
At the time, its fixed assets were valued at £13 million and current assets at £4.6 million. However, its net liabilities amounted to more than £9.2 million.
IOR Group Limited – May 13
IOR Group Limited, an office refurbishment firm based in London, fell into administration last week, with Kelly Mitchell and Andrew Watling of Quantuma Advisory appointed as joint administrators.
In accounts for the year to December 31 2023, the firm reported turnover of £20.4 million, up from £16 million a year earlier, but fell to a post-tax loss of £408,000, compared to a profit of nearly £630,000 the previous year.
At the time, the company’s fixed assets were valued at around £754,000 and current assets at £5.4 million, with net assets amounting to around £882,000.
Manta Systems UK Limited – May 13
Manta Systems UK Limited, a Darlington-based supplier of modular remote and autonomous underwater vehicles to subsea industries, fell into administration at the end of April, with Gareth Harris and Lee Van Lockwood of RSM UK Restructuring Advisory appointed as joint administrators.
In its financial reports for the year to September 30 2022, when the firm was trading as Modus Subsea Services Limited, it reported turnover of £14.1 million, up slightly from £13.7 million a year earlier, but saw its post-tax losses almost double from £760,000 to nearly £1.5 million.
At the time, its fixed assets were valued at £15.8 million and current assets at £2.7 million, with net assets amounting to slightly under £2.8 million.
AITA Films Limited – May 13
AITA Films Limited, the film production company behind the film Angels in the Asylum, fell into administration at the start of May, with Kikis Kallis and Andreas Arakapiotis of Kallis Insolvency Practitioners appointed as joint administrators.
Angels in the Asylum, a British indie film starring actor Simon Pegg, halted filming midway through shooting last month after reportedly running out of cash amid a funding crisis. Crew working on the film are reportedly owed at least £600,000 in wages, while there are also thought to be significant debts owed to suppliers. The production company was placed into administration in the wake of filming being stopped.
In accounts for the year to February 29 2024, the company’s assets were valued at slightly over £400,000, with net liabilities amounting to approximately £65,000.
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