Tue, 01 Apr 2025 | ADMINISTRATION
Online competition business Jackson Jackpot Ltd has gone into administration.
The Doncaster-based company which was set up in 2022 and has a registered office in Leeds appointed Bob Maxwell, Nick Reed and Louise Longley of Begbies Traynor as joint administrators.
The company claimed to have paid out over £12 million to players and almost £600,000 to charities. However, it is reported to have suffered a “series of technical issues” leading to operational problems.
Jackson Jackpot ceased trading prior to the appointment and its affairs, business and property are being managed by the joint administrators.
A spokesperson for Begbies Traynor said: "Begbies Traynor were appointed administrators of Jackson Jackpot Limited on 24 March 2025. The business ceased trading two weeks prior to our appointment by the company. From our initial review of the company's trading and following discussions with the directors and their professional advisors, the business had traded successfully until a series of technical issues with a new website created operational problems, and incorrectly credited some users' accounts, temporarily, with inaccurate balances.”
Begbies Traynor said that its priority as the administrators will be to safeguard the books and records and assets of the company and to evaluate the level of creditor liabilities.
"It is unknown at this stage what the dividend prospects are for creditors,” it said. "No further information is available at this stage, and the administrators will issue their proposals in the next couple of months."
In its most recent set of accounts filed to Companies House for the period between March 20, 2023, and March 31, 2024, the company reported that it had creditors amounts falling due within one year of £1.4 million. Of that the majority was to taxation and social security.
The average number of employees at the company during the period came to 5.
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