UK administrations: March 26 – April 1

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.

Future High Street Living (Talbots) Limited – March 26
Future High Street Living (Talbots) Limited, a Birmingham-based real estate firm, fell into administration last month, with Gary Hargreaves and Anthony Collier of FRP Advisory appointed as joint administrators.

In accounts for the year to September 30 2022, the company’s current assets were valued at around £15.7 million, but net liabilities totalled slightly over £28,000.

HRC Newcastle Limited – March 26
HRC Newcastle Limited, the operating company behind the Newcastle branch of restaurant chain Hard Rock Cafe, fell into administration in mid-March, with Antonya Allison and Steven Ross of FRP Advisory appointed as joint administrators.

In accounts for the year to February 29 2024, the company’s fixed assets were valued at £1.9 million and current assets at close to £700,000, with net assets amounting to just £659.

Moltex Energy Limited – March 27
Moltex Energy Limited, a West Midlands-based nuclear energy developer, fell into administration last month, with Jonathan Amor and Richard Oddy of Azets appointed as joint administrators.

The joint administrators were appointed due to the “failure to achieve the majority shareholder consent to new investments" or "the sale of its assets". The administrators will now market the business and assets, including intellectual property and subsidiary shareholdings, for sale.

Despite the company’s collapse, the subsidiary undertakings of Moltex Energy Canada Inc and MoltexFLEX Limited are unaffected and will continue to trade as usual.

In accounts for the year to March 31 2024, Moltex Energy Limited generated around £518,000 in revenue from continuing operations, down from approximately £1.7 million a year earlier. Despite the dip in revenue, the company cut its losses from nearly £1.7 million in 2023 to around £630,000 in 2024.

At the time, its non-current assets were valued at £833,412 and current assets at nearly £6.8 million, with total equity amounting to close to £7 million.

Hibberd Distribution Limited – March 28
Hibberd Distribution Limited, a Blackpool-based retailer and distributor of electrical appliances and furniture, fell into administration last month, with M J Colman and Megan Singleton of Leonard Curtis appointed as joint administrators.

In accounts for the year to December 31 2023, the company reported turnover of around £19.7 million, up from around £19.2 million a year earlier, but fell to a post-tax loss of nearly £140,000, compared to a profit of £316,000 the previous year.

At the time, its fixed assets were valued at approximately £1.2 million and current assets at £5.2 million, with net assets standing at £1.9 million.

Kilburn Developments Limited – March 28
Kilburn Developments Limited, a building developer based in Kilburn, North West London, fell into administration last month, with Adam Harris and Natasha Brodie of Forvis Mazars appointed as joint administrators.

In accounts for the year to December 31 2023, the company’s assets were valued at around £3.7 million, but net liabilities amounted to more than £2.8 million.

Y S Reclamation Limited – March 28
Y S Reclamation Limited, a plastic waste recycler, fell into administration last month, with Stephen Katz and David Birne 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 £3.4 million and current assets at £2.4 million, while net assets amounted to just over £2.1 million.

Kingfisher Resorts St Ives Limited – March 28
Kingfisher Resorts St Ives Limited, the holding company of a trading group operating a resort and hotel in Cornwall, fell into administration last week, with Richard Warwick and Rachel Hotham of Milsted Langdon appointed as joint administrators.

In accounts for the year to December 30 2022, the company reported turnover of £6.2 million, down slightly from £6.8 million a year earlier, but fell to a post-tax loss of over £1.5 million, from an £80,000 loss the previous year.

Eagle Platforms Limited – March 31
Eagle Platforms Limited, a South Yorkshire-based platform and cherry picker hire and training firm, fell into administration last week, with Elizabeth Welch and Sandra McAlister of Leonard Curtis appointed as joint administrators.

In accounts for the year to January 31 2024, the company’s fixed assets were valued at £10.8 million and current assets at £1.9 million, with net assets amounting to £3.1 million.

Jetline Travel Limited – March 31
Jetline Travel Limited, a London-headquartered travel agent trading under a variety of brand names, fell into administration last week, with Alan Clark of Carter Clark and Neil Bennett of Leonard Curtis appointed as joint administrators.

In accounts for the year to December 31 2023, the company reported total transactional turnover of £28.1 million, down from £32.1 million a year earlier, and post-tax profit of £569,395, down from £1.1 million.

At the time, its fixed assets were valued at £3.1 million and current assets at £6.3 million, but net liabilities amounted to nearly £70,000.

Sheen Lane Developments Limited – April 1
Sheen Lane Developments Limited, a residential real estate developer, fell into administration last week, with Brian Burke and Elias Paourou of Quantuma Advisory appointed as joint administrators.

In accounts for the year to April 30 2023, the company reported turnover of £50.5 million, down from around £72.2 million a year earlier, while seeing its post-tax losses soar from £5.4 million to £26.5 million.

At the time, its fixed assets were valued at £1.6 million and current assets at £48.9 million. It net liabilities at the time, however, amounted to more than £8.7 million.


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