UK administrations update: November 5 – 12

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.

Sense Group Limited – November 5
Sense Group Limited, a retailer of household electronic appliances based in Merseyside, fell into administration in late October, with John Butler and Andrew Nichols of Redman Nichols Butler appointed as joint administrators.

In accounts dated August 31 2023, the company’s fixed assets were valued at approximately £108,000 and current assets at around £1.4 million. Net assets amounted to roughly £124,000 at the time.

Spring Fibre Limited – November 5
Spring Fibre Limited, an internet service provider (ISP) headquartered in Reading, fell into administration last week, with Christopher Bennett, Shamil Malde and Andrew Johnson of FTI Consulting appointed as joint administrators.

The company’s collapse comes after one of its initial backers, Kingsley Capital Partners, pulled out of funding its build-out and day-to-day operational costs, reportedly leading to material uncertainty over its ability to continue trading as a going concern.

In amended accounts for the year to December 31 2022, the company reported a pre-tax loss of more than £3.8 million, more than double its 2021 losses of £1.57 million. Its total liabilities stood at £2.7 at that time, but had increased to approximately £13.7 million by the time of its accounts covering the year to December 31 2023. The firm’s 2023 accounts did not cover profit and loss figures.

Find out more about some of the challenges facing telecoms firms

McGregor Logistics Limited – November 6
McGregor Logistics Limited, a Doncaster-based logistics company, fell into administration at the end of October, appointing Patrick Lannagan, Conrad Pearson and Adam Harris of Forvis Mazars as joint administrators.

In accounts for the year to June 30 2022, the company reported turnover of around £20.4 million, up from £17.8 million a year earlier, but saw post-tax profit drop slightly from approximately £415,000 to around £376,000.

According to directors, the company’s gross margin had been eroded by the UK’s driver shortage, as well as rising fuel costs. The firm had also made significant investments in new commercial vehicles.

Find out more about McGregor Logistics’ collapse

MBU Capital Group Limited – November 6
MBU Capital Group Limited, a London-based investment firm focused on natural resources, education, CBD and real estate, fell into administration at the end of last month, with Watne MacPherson and Jamie Taylor of Begbies Traynor and Andrew Fender of Sanderlings appointed as joint administrators.

In accounts for the year to March 31 2022, the company reported total comprehensive income of £209.7 million. Its fixed assets were valued at £193.2 million and current assets at £43.4 million, with net assets amounting to £185.3 million.

Universal Environmental (Information) Access Limited – November 7
Universal Environmental (Information) Access Limited, a claims management company based in Derbyshire, fell into administration at the end of October, with Robert Dymond and Kris Wigfield of Begbies Traynor appointed as joint administrators.

In accounts for the year to May 31 2023, the company’s current assets were valued at around £5.5 million. However, its owed over £5.3 million to creditors at the time, leaving it with net assets of just over £146,000.

Solpro Manufacturing Limited – November 7
Solpro Manufacturing Limited, a group that comprises a single trading subsidiary – brazing alloys processor Solpro Brazing – and several dormant companies, fell into administration in late October, with Robert Dymond and Gary Shankland of Begbies Traynor appointed as joint administrators.

The administration of the group comes almost exactly a year after the collapse of one of its subsidiaries – historic Sheffield-based brazing manufacturer Thessco Limited – as a result of soaring energy and raw material costs.

In accounts for the year to December 31 2022, the group reported turnover of £35.8 million, down from around £38.3 million a year earlier, and a post-tax loss of £257,190 – although this was an improvement on a loss of £361,000 in 2021. At the time, its fixed assets were valued at £10.4 million and current assets at £8.2 million, with net assets amounting to around £8.1 million.

It is unclear at this time how Solpro Brazing is impacted by the administration of its parent company.

Lyjon Co. Limited – November 12
Lyjon Co. Limited, a commercial and industrial contractor based in Ellesmere Port, fell into administration last week, appointing Ian McCulloch and Lisa Ion of Opus Restructuring as joint administrators.

In accounts for the year to September 30 2023, the company reported turnover of £7.9 million, down from around £8.1 million a year earlier, while seeing its pre-tax losses soar from approximately £122,000 to nearly £1.2 million.

At that time, its fixed assets were valued at around £595,000 and current assets at £3.6 million, with net assets amounting to £1.57 million.

Medazur Medical Clinic Limited – November 12
Medazur Medical Clinic Limited, a medical and dental clinic in Leytonstone, fell into administration last week, with Glyn Mummery of FRP Advisory appointed as administrator.

In accounts for the year ending September 30 2023, the clinic reported turnover of £631,000, roughly level with 2022 levels, and a post-tax profit of around £101,000, down from approximately £176,000 a year earlier.

At the time, its fixed assets were valued at £1.5 million and current assets at around £96,000, with total net assets amounting to approximately £435,000.

Brainn Wave Limited – November 12
Brainn Wave Limited, an IT services business based in London, fell into administration at the beginning of November, with Gary Lee and Frank Ofonagoro of Opus Restructuring appointed as joint administrators.

In accounts for the year to December 31 2023, the company’s fixed assets were valued at around £23,000 and current assets at approximately £493,000. However, its net liabilities at the time amounted to over £3.2 million.


Click here to download our free guide on finding and buying distressed businesses and assets

Share this article

Latest Businesses for Sale

View more businesses for sale