UK administrations update: November 4 - 10

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.

Innovative Aged Care Limited - November 4
Innovative Aged Care Limited, a London-based residential care provider, fell into administration in late October, with James Hawksworth, Matthew Haw and James Dowers of RSM UK Restructuring Advisory appointed as joint administrators.

In accounts for the year to December 31 2023, the company reported turnover of around £365,000, down from £611,000 a year earlier, while operating losses widened from slightly under £10,000 to almost £122,000.

At the time, the firm’s fixed assets were valued at £1.1 million and current assets at £4.8 million, while net liabilities totalled approximately £2.4 million.

Fired Earth Limited - November 4
Fired Earth Limited, a bathroom, tile and paint retailer based in Oxfordshire, fell into administration at the end of October, with Dane O’Hara and Alex Cadwallader of Leonard Curtis appointed as joint administrators.

According to the joint administrators, the loss-making company’s investor was not prepared to provide further funding in the absence of a viable turnaround plan. All of the company’s stores will close, with 133 jobs lost, as a result of the administration.

The joint administrators are continuing to trade the business in a limited capacity pending completion of an asset sale.

In accounts for the year to September 30 2024, the company reported revenues of close to £15 million, up from £14.2 million in 2023, but incurred an operating loss of nearly £1.7 million. At the time, its fixed assets were valued at £885,000 and current assets at around £5.1 million. However, net liabilities amounted to nearly £3.1 million.

Find out more about Fired Earth’s administration

Silkfred Limited - November 4
Silkfred Limited, an online fashion retailer headquartered in London, fell into administration in late October, with Andrew Watling and Duncan Beat of Quantuma Advisory appointed as joint administrators.

In accounts for the year to December 31 2023, the company reported revenue of around £11.2 million, down from £20.8 million a year earlier, while operating losses widened from £1.1 million to £3.2 million.

At the time, its non-current assets were valued at £4.3 million and current assets at £3.6 million, while total equity stood at slightly over £2 million.

TBNG Limited - November 5
TBNG Limited, an oil and gas company based in London, fell into administration at the end of October, with Benjamin Wiles and Robert Armstrong of Kroll Advisory appointed as joint administrators.

In accounts for the year to December 31 2024, the company reported turnover of around £20.4 million, down from £27.8 million a year earlier, while pre-tax profits fell from £7.5 million to £1.3 million.

At the time, the company’s non-current assets totalled £22.2 million and current assets approximately £10 million, with total equity amounting to £13 million.

M.C.P.Property Services Limited - November 5
M.C.P.Property Services Limited, a provider of repairs, maintenance and capital works for social housing sector properties, fell into administration late last month, with David Birne and Stephen Katz of Begbies Traynor appointed as joint administrators.

In accounts for the year ending March 31 2024, the company reported turnover of £21.1 million, up from £15.7 million a year earlier, while operating profits dipped from around £313,000 to slightly under £238,000.

Its fixed assets were valued at close to £100,000 and current assets at £6.8 million, while net assets amounted to around £1.2 million.

Moss Civil Engineering Limited - November 6
Moss Civil Engineering Limited, a Staffordshire-based civil engineering firm, fell into administration at the end of October, with Mike Dillon and Hilary Pascoe of Leonard Curtis appointed as joint administrators.

In accounts for the year to May 31 2025, the company’s fixed assets were valued at £1.9 million and current assets at close to £2.7 million, with net assets amounting to £1.2 million.

Shuttlewood Marine Limited - November 6
Shuttlewood Marine Limited, a London-based boat repair and maintenance firm, fell into administration last week, with Ian Corfield and Anthony Simmons of FRP Advisory appointed as joint administrators.

Corfield and Simmons were also appointed as joint administrators of Thames River Moorings Limited, TRM Marine Limited and Thames River Investments Limited, which are all based at the same London address.

In the year ending September 30 2023, Shuttlewood Marine’s fixed assets were valued at £1.3 million and current assets at around £7.7 million. Net liabilities, however, amounted to slightly over £675,000.

For the same period, Thames River Investments’ fixed assets were valued at around £116.3 million and current assets at £21.8 million, while net assets amounted to around £38.9 million.

TRM Marine Limited, meanwhile, reported gross profits of slightly over £1 million, up from approximately £693,000 a year earlier, but saw operating losses widen from £187,000 to around £263,000. Its net liabilities totalled nearly £450,000.

Bell Education Services Limited - November 6
Bell Education Services Limited, an education group operating English language schools in Cambridge, London and St Albans, fell into administration last week, with Danny Dartnaill, Timothy Townley and Mark Thornton of BDO appointed as joint administrators.

In accounts for the year to December 31 2024, the company reported turnover of £10.9 million, up from around £10.3 million a year earlier, but saw operating losses increase sharply from £273,000 to £906,000.

At the time, its fixed assets were valued at £1.1 million and current assets at £2.9 million. Net liabilities, however, amounted to £789,000.

Hydrogen Vehicle Systems Limited - November 7
Hydrogen Vehicle Systems Limited, a manufacturer of hydrogen vehicles based in Glasgow, fell into administration last month, with Paul Dounis and Mark Harper of Opus Restructuring appointed as joint administrators.

In accounts for the year to October 31 2024, the company’s fixed assets were valued at £38.5 million and current assets at £1.1 million, with net assets standing at approximately £288,000.

V7 Recruitment Limited - November 7
V7 Recruitment Limited, a Manchester-based recruitment agency, fell into administration at the end of October, with Simon Farr and Anthony Collier of FRP Advisory appointed as joint administrators.

In accounts for the year to December 31 2023, the company’s fixed assets were valued at close to £300,000 and current assets at £1.9 million, with total equity standing at approximately £93,000.

Scotch Frost of Glasgow Limited - November 7
Scotch Frost of Glasgow Limited, an Uddingston-based importer and distributor of fresh and frozen foods to restaurants and retailers, fell into administration last week, with Paul Webber and Kevin Mapstone of Begbies Traynor appointed as joint administrators.

The joint administrators will now oversee a sale of the business’ assets, including its freehold property and plant and food processing machinery.

In accounts for the year to March 31 2024, the company reported turnover of £25.6 million, down from around £33 million a year earlier, while operating losses widened from £2.3 million to approximately £3.3 million.

At the time, its fixed assets were valued at £1.9 million and current assets at £4.5 million. Net liabilities, however, totalled £5.3 million.

KRL Group Limited - November 10
KRL Group Limited, a Hull-based supplier of printing equipment, fell into administration last week, with Phil Deyes and Sean Williams of Leonard Curtis appointed as joint administrators.

In accounts for the year to December 31 2023, the company’s fixed assets were valued at around £835,000 and current assets at £3 million, with total equity standing at approximately £1.4 million.

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