UK administrations update: November 18 - 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.

Carbon8 Systems Limited - November 18
Carbon8 Systems Limited, a carbon capture and green materials specialist based in Kent, fell into administration earlier this month, with Chris Newell and Jo Leach of Quantuma Advisory appointed as joint administrators.

Quantuma Managing Director Chris Newell said that the joint administrators expected strong interest in the company’s assets, drawing particular attention to its “innovative intellectual property”.

In accounts for the year to December 31 2024, the company’s fixed assets were valued at around £3.8 million and current assets at approximately £646,000. However, its net liabilities at the time exceeded £1.1 million.

Read more about the collapse of Carbon8 Systems and the company's intellectual property assets

Earl Transport Limited - November 19
Earl Transport Limited, a Milton Keynes-based haulage and distribution company, fell into administration earlier this month, with Ian McCulloch and Trevor Binyon of Opus Restructuring appointed as joint administrators.

In accounts for the year to March 31 2024, the company’s fixed assets were valued at around £430,000 and current assets at slightly over £834,000, with net assets amounting to approximately £604,000.

Once Upon A Time London Limited - November 19
Once Upon A Time London Limited, a creative agency based in London, fell into administration last week, with Mark Blackman and Michael Lennon of KR8 Advisory appointed as joint administrators.

In accounts for the year to April 30 2024, the company reported an operating loss of around £86,000, although this was a significant improvement from a £4.2 million operating loss the previous year.

At the time, its fixed assets were valued at £25.4 million and current assets at around £10.7 million, while net assets stood at £5.8 million.

Merit Group - November 19
Merit Group, an offsite construction specialist based in Northumberland, fell into administration last week. James Lumb and Will Wright of Interpath Advisory were appointed as joint administrators of Merit Group Services Limited, Merit Health Limited and Merit Holdings Limited (collectively trading as Merit) last week.

The company had been hit over recent months by contractual issues and delays to a number of major contracts, which had a significant impact on its cashflow. Merit Group Services Limited subsequently became subject to an unexpected winding up petition, leading to an adverse effect on new works awards and a number of project delays.

The group’s operations ceased upon the appointment of the joint administrators, with the majority of its 340-strong staff made redundant.

In group accounts for the year to June 30 2024, Merit Group Services Limited reported turnover of approximately £79.7 million, down from £88.4 million a year earlier, while operating profit fell from £7.9 million to £6.3 million.

At the time, the group’s fixed assets were valued at around £37.1 million and current assets at approximately £41.6 million, while net assets amounted to £21.1 million.

Find out more about the collapse of the Merit group

Bramble Energy Limited - November 20
Bramble Energy Limited, a clean energy technology provider based in Crawley, fell into administration last week, with Ian Corfield and Simon Baggs of FRP Advisory appointed as joint administrators.

In accounts for the nine months to September 30 2024, the company reported an operating loss of around £8.8 million, compared to a £12.8 million loss in the year to December 31 2023. Its non-current assets at the time were valued at £8.3 million and current assets at £5.6 million, while total equity amounted to £9.8 million.

Videoondemand365 Limited - November 20
Videoondemand365 Limited, a video production company, fell into administration earlier this month, with Hilary Pascoe and Andrew Poxon of Leonard Curtis appointed as joint administrators.

In accounts for the year to December 31 2023, the company’s fixed assets were valued at £1.9 million and current assets at around £960,000, while net assets stood at approximately £838,000.

Cap10 Partners LLP - November 21
Cap10 Partners LLP, a private equity firm based in London, fell into administration last week, with Benjamin Dymant and James Bennett of Teneo Financial Advisory appointed as joint administrators.

In accounts for the year to March 31 2024, the company reported turnover of £8.9 million, up from £5.6 million a year earlier, while operating profits increased from £2.4 million to around £3.3 million. Its fixed assets stood at around £346,000 at the time, while current assets amounted to approximately £7.2 million and net assets totalled £5.9 million.

Cove Communities Holiday Park UK Holdco Limited (HPUK), Cove Communities Venture 2 Gwel an Mor OpCo Limited, Cove Communities Venture 2 Solway OpCo Limited, Cove Communities Venture 2 Springwood OpCo Limited and Cove Communities Venture 2 Argyle OpCo Limited - November 21 and 24
Five businesses within the Cove Communities group of holiday park operators fell into administration last week.

Adam Paxton and Rob Croxen of Alvarez & Marsal Europe have been appointed as joint administrators to Cove Communities Holiday Park UK Holdco Limited (HPUK) along with three subsidiaries: Cove Communities Venture 2 Gwel an Mor OpCo Limited; Cove Communities Venture 2 Solway OpCo Limited; and Cove Communities Venture 2 Springwood OpCo Limited.

Paxton and Croxen, along with Ben Cairns (also of Alvarez & Marsal Europe) have also been appointed as joint administrators to another subsidiary: Cove Communities Venture 2 Argyle OpCo Limited.

The affected businesses operate holiday parks in Cornwall, Cumbria and Scotland. Other businesses within the Cove Communities group are reported to be unaffected by the situation.

In group accounts for the year to December 31 2023, Cove Communities Holiday Park UK HoldCo Limited reported turnover of approximately £48.8 million, up from £38.7 million the previous year, but saw its operating losses widen from £11.4 million to approximately £20 million.

At the time, its fixed assets were valued at approximately £120 million and current assets at £15.3 million. However, net liabilities amounted to around £113.1 million.

Find out more about Cove Communities here

Sonder Europe Limited and Sonder Hospitality UK Limited - November 24
Sonder Europe Limited and Sonder Hospitality UK Limited, the UK businesses of the international short-term rental accommodation provider, fell into administration last week, with Gordon Thomson and Matthew Haw of RSM Restructuring Advisory appointed as joint administrators of both companies.

Sonder is winding down operations as it prepares to file for Chapter 7 bankruptcy in the USA and liquidate its holdings following the announcement that Marriott International had terminated its licensing agreement with the company and removed its inventory from distribution channels.

In accounts for the year to December 30 2023, Sonder Europe Limited reported turnover of £20.5 million, up from around £3.7 million in its previous accounts. However, it still reported an operating loss of slightly over £26 million (£26.9 million the previous year). Its non-current assets were valued at £3.4 million and current assets at around £21.8 million, but net liabilities stood at approximately £46.8 million.

In the year to December 31 2023, Sonder Hospitality UK Limited reported turnover of around £27.9 million, down slightly from £28.4 million a year earlier, while increasing its operating profits from £4.5 million to around £4.7 million. Its non-current assets were valued at around £32.8 million and current assets at £12.6 million, with net assets standing at around £840,000.

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