Tue, 25 Mar 2025 | ADMINISTRATION
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.
Adventure Parc Snowdonia Limited – March 19
Adventure Parc Snowdonia Limited, the company behind Adventure Parc Snowdonia, an adventure park in north Wales featuring the world’s first commercial artificial surfing lake, fell into administration earlier this month, with Paul Stanley and Mark Weekes of Begbies Traynor appointed as joint administrators.
In accounts for the period from February 1 2022 to May 31 2023, the company reported turnover of around £2.7 million, compared to around £2.8 million for the year to January 31 2022, and fell to a loss of more than £2.3 million.
In the report, directors stated that the loss was partly the result of operational issues with its wave machine and lagoon, which resulted in “sales revenues well below budget”. Due to these issues, surfing operations ceased from May 2023.
At the time, the company’s fixed assets were valued at approximately £14.8 million and current assets at around £266,000, with net assets amounting to £4.5 million.
Ledwell Plastics Limited – March 20
Ledwell Plastics Limited, a Leicester-based plastic injection moulding firm trading as Ledwell Plastics Limited, Tank Track and Reg the Sledge, fell into administration last week, with Nathan Jones and John Lowe of FRP Advisory appointed as joint administrators.
The joint administrators stated that the company had been unable to “overcome the financial pressures of a challenging operating environment” and that, despite having future work lined up, cashflow issues and rising costs meant it had “no choice but to enter administration.” The administrators added that they are in talks with potential buyers.
In accounts for the year to August 31 2023, the company’s fixed assets were valued at around £708,000 and current assets at approximately £1 million, with net assets amounting to slightly over £660,000.
Find out more about Ledwell Plastics’ collapse
Jellyfish Pictures Limited – March 20
Jellyfish Pictures Limited, a London-based animation and visual effects (VFX) studio, fell into administration last week, with Howard Smith and Michael Pink of Interpath appointed as joint administrators.
The company has been operating since 2001 and has worked with clients including Disney, Netflix, HBO, DreamWorks, Sky and the BBC. However, like many firms in the industry, it has faced significant trading challenges amid high cost inflation and impact of writer and actor strikes.
The joint administrators are now seeking a buyer for the company’s assets, primarily comprised of computer and audio visual equipment.
In accounts for the year to March 31 2024, the company reported turnover of £44.4 million, up from £19 million a year earlier, while posting a post-tax profit of £1.8 million, compared to a £2.7 million loss the previous year.
At the time, its fixed assets were valued at £5.5 million and current assets at £7.9 million. However, its liabilities at the time totalled £2.8 million.
Find out more about M&A in the UK film and TV industry
Net Lynk Direct Limited – March 21
Net Lynk Direct Limited, a Birmingham-based warehouse services and distribution solutions company, fell into administration last week, with Joph Young and Conrad Beighton of Leonard Curtis appointed as joint administrators.
In accounts for the year to September 30 2023, the company generated turnover of £33.2 million, up from £26.6 million a year earlier, and post-tax profits of £1.8 million. At the time, its total assets were valued at around £7.4 million and net assets at £1.8 million.
Ripple Energy Limited – March 25
Ripple Energy Limited, a London-based energy company, fell into administration last week, with Craig Povey and Gareth Prince of Begbies Traynor appointed as administrators.
In accounts for the year to March 31 2024, the company’s fixed assets were valued at around £48,000 and current assets at slightly over £8 million. However, considerable debts meant that its net assets amounted to just under £54,000.
Adam Carpets Limited – March 25
Adam Carpets Limited, a Kidderminster-based carpet manufacturer, fell into administration last week, with Joph Young and Conrad Beighton of Leonard Curtis appointed as joint administrators.
In accounts for the year to March 31 2024, the company reported turnover of £5.8 million, down from £6.6 million a year earlier, and fell to a loss of £356,412 for the year. At the time, its fixed assets were valued at £2.1 million and current assets at £3.4 million, with total equity amounting to £1.5 million.
Earlier this month, the company’s Managing Director Chris Adam stated that the firm had seen a “significant drop off in sales since the autumn of 2024”, driven by factors including adverse trading conditions across the retail sector, rising gas and electricity prices and the increase in employer National Insurance contributions.
The Proton Group Limited – March 25
The Proton Group Limited, a chemical products manufacturer based in West Yorkshire, fell into administration earlier this month, with Mark Ranson and Gareth Wilcox of Opus Restructuring appointed as joint administrators.
In accounts for the year to December 31 2023, the company’s fixed assets were valued at slightly over £244,000 and current assets at £2.8 million, while net assets amounted to approximately £1 million.
Colstan Profiles Limited – March 25
Colstan Profiles Limited, a specialist steel profiling company based in Dudley, fell into administration earlier this month, with Dean Nelson and Brett Barton of PKF Smith Cooper appointed as joint administrators.
In the company’s accounts for the year to March 31 2024, the company’s fixed assets were valued at around £794,000 and current assets at slightly over £1.4 million, with net assets coming to around £231,000.
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