UK administrations update: April 23 – 30

Since our last update, the following businesses have been confirmed as having fallen into administration. All dates indicate when the administration was posted by the Gazette and not necessarily the dates on which administrators were appointed.

SRS Care Solutions Limited – April 23
SRS Care Solutions Limited, a provider of bespoke at-home care services based in Paisley, fell into administration in mid-April, with Scott Milne and Ian Wright of Quantuma Advisory appointed as joint administrators.

In the company’s accounts for the year to March 31 2022, its total assets were valued at around £1.27 million, with net liabilities at the time amounting to £62,415.

GoBubble Limited – April 24
GoBubble Limited, a software company specialising in AI content moderation, fell into administration earlier this month, with Guy Hollander and Adam Harris of Mazars LLP being appointed as joint administrators.

In the company’s accounts for the period from September 1 2021 to December 31 2022, its fixed assets were valued at £356,754 and current assets as slightly over £720,000. At the time, the firm’s total assets were valued at £986,318.

Intaglio Engraving Limited – April 24
Intaglio Engraving Limited, a Lancashire-based gravure engraving manufacturer, fell into administration on April 19, with the Gazette confirming the appointment of SFP’s David Kemp and Richard Hunt as joint administrators on April 24.

The company, which was founded in 1977, was a niche manufacturer of gravure printing rollers, serving many of the UK’s specialist gravure print firms. The company underwent a management buyout in 2017.

In its accounts for the period from December 31 2021 to February 9 2023, its fixed assets were valued at £1.4 million and current assets at £1.3 million. At the time, however, the company owed more than £2.6 million to creditors, with total equity standing at just below £90,000.

Find out about the latest M&A trends in manufacturing

Featherfoot Bayer Limited – April 24
Featherfoot Bayer Limited, a property development firm headquartered in Leeds, fell into administration earlier this month, appointing Lee Lockwood and Gareth Harris of RSM UK Restructuring Advisory appointed as joint administrators.

The company’s sole director is Paul Rothwell, Managing Director of Empire Development Holdings. Rothwell is also a director of several other firms that have gone into administration recently, including MCIOD, Featherfoot Globe and Featherfoot Cuthbert House.

In its accounts for the year ending April 30 2023, Featherfoot Bayer’s current assets were valued at £32.6 million. However, the company owed slightly more than that to creditors, with net liabilities totalling £14,713.

Roberto Costa Soho Limited – April 24
Roberto Costa Soho Limited, which trades as Macellaio RC, is an Italian restaurant based in London and part of the Macellaio chain. The business fell into administration earlier this month, appointing Nick Parsk and Kalani Gunawardana of Oury Clark Chartered Accountants as joint administrators.

In its accounts for the year to December 31 2022, the company’s total assets were valued at around £1.6 million, with total equity standing at £419,127.

Find out how dealmaking might develop in the hospitality industry this year

TRK Brixton Limited and TRK Shoreditch Limited – April 26
TRK Brixton Limited and TRK Shoreditch Limited, entities within The Rum Kitchen group of Caribbean restaurants and cocktail bars, were placed into administration last week, with Nicola Banham and Colin Haig of Azets appointed as joint administrators to both.

In its accounts for the year to July 31 2022, TRK Brixton’s net assets were valued at £544,625, while TRK Shoreditch had total liabilities amounting to £308,676.

SUK24 Limited – April 26
SUK24 Limited, a supplier of aluminium windows and doors headquartered in Preston, fell into administration last week, appointing Mike Dillon and Andrew Knowles of Leonard Curtis as joint administrators.

The company was previously called Sliders (UK) Limited, but changed its name to SUK24 Limited the day after administrators were appointed.

In its accounts for the year to July 31 2022, while still trading as Sliders (UK), the company reported that the year had initially seen a continuation of the record business levels the firm experienced during 2021. However, this was subsequently followed by a “steady slow down” during the second half of the year, as a result of uncertainties created by Russia’s war in Ukraine, as well as the impact of the cost-of-living crisis and “political uncertainties”.

The company reported turnover of £14.2 million, up slightly from £14.1 million a year earlier, but saw its pre-tax profits fall by nearly half from £1.2 million to £652,714. At the time, its fixed assets were valued at £1.1 million and current assets at around £3 million, with net assets amounting to slightly under £775,000.

Loadout Express Limited – April 26
Loadout Express Limited, a Glasgow-based provider of band bus and event transport solutions across the UK, fell into administration last week, with Scott Milne and Ian Wright of Quantuma appointed as joint administrators. The administration came less than two weeks after the company faced a winding-up petition.

In filleted accounts for the year ending August 31 2022, the company’s fixed assets were valued at £447, 577 and current assets at £203,214. At the time, the company’s net assets amounted to just under £83,000.

Everest 2020 Limited – April 29
Everest 2020 Limited, which trades as Everest, is one of the UK’s largest providers of double-glazing. The company fell into administration last week, with Chris Farrington and Cameron Gunn of ReSolve Advisory appointed as joint administrators.

The business, which is owned by Better Capital, previously fell into administration during the COVID-19 pandemic, before being rescued in a pre-pack deal by new company Everest 2020 Limited. Everest is one of Better Capital’s last remaining assets, with the group in the process of being wound down by owner John Moulton.

A statement circulated to potential bidders several weeks ago stated that the company "requires an immediate funding injection to relieve creditor pressure which, combined with further significant investment in its marketing, systems and brand, can deliver increased market share, and a path to strong underlying profitability and growth".

The company reported turnover of £51.1 million in the year to May 31 2022, but fell to a pre-tax loss of over £1.6 million. At the time, its net liabilities amounted to nearly £4.8 million.

Find out more about Everest’s administration

Shift 4 Limited – April 29
Shift 4 Limited, a film equipment rental and crew provider based in London, fell into administration last week, with David Kemp and Richard Hunt of SFP appointed as joint administrators.

In its accounts for the year to March 31 2022, the company’s fixed assets were valued at close to £6.6 million and current assets at £1.2 million. At the time, its net assets were valued at £2.2 million.

Read more about M&A trends in the UK’s film and TV industry

Farleigh (Reading) Limited – April 30
Farleigh (Reading) Limited, a property company based in Solihull, fell into administration last week, appointing Michael Lennon and Steven Muncaster of Kroll Advisory as joint administrators.

In the company’s accounts for the year to March 31 2023, its current assets were valued at just under £5 million, but its debts to creditors left the firm with net liabilities totalling £391,755.


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