UK administrations update: October 1 – 8

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.

Bromham Biogas Limited – October 1
Bromham Biogas Limited, a farm and biogas plant in Wiltshire, fell into administration in late September, with Andrew Pear and Milan Vuceljic of Moorfields appointed as joint administrators.

In accounts for the year to March 31 2023, the company’s fixed assets were valued at approximately £9.5 million and current assets at £2.1 million. However, at the time, its net liabilities amounted to more than £6.7 million.

Growthdeck Limited – October 3
Growthdeck Limited, a London-based private investment platform, fell into administration last month, with Marco Piacquadio and Alan Coleman of FTS Recovery appointed as joint administrators.

The company’s most recent accounts at Companies House cover the year ending December 31 2021. During that time, it reported turnover of £1.2 million, up from around £783,000 a year earlier, while cutting its post-tax losses from nearly £1.3 million to approximately £545,000.

At the time, its fixed assets were valued at around £110,000 and current assets at £809,033, with total equity amounting to £404,273.

Physical 2 Digital Limited – October 3
Physical 2 Digital Limited (P2D), a Milton Keynes-based IT solutions and digital consultancy firm, fell into administration during the final week of September, with Marco Piacquadio and Alan Coleman of FTS Recovery appointed as joint administrators.

In accounts for the year ending March 31 2023, the company’s fixed assets were valued at £4.5 million and current assets at around £888,000. At the time, its net assets were valued at approximately £1.2 million.

House of Mosaics Limited – October 3
House of Mosaics Limited, an online retailer of mosaic tiles based in Manchester, fell into administration last week, with Katy McAndrew and Mike Dillon of Leonard Curtis appointed as joint administrators.

In accounts for the year to December 30 2022, the company’s total assets were valued at around £2 million. However, liabilities meant that its net assets amounted to just over £13,000.

R.H. Ovenden Limited – October 3
R.H. Ovenden Limited, a Faversham-based haulage and plant hire firm, fell into administration in late September, appointing Nicola Baker of Rushton Insolvency as administrator.

In accounts for the year to March 31 2023, the company’s fixed assets were valued at slightly over £1 million and current assets at approximately £2.4 million, while net assets amounted to just over £2 million.

GHI Contracts Limited – October 4
GHI Contracts Limited, a Lanarkshire-based principal interiors contractor specialising in fit-out and refurbishment, fell into administration last month, with James Stephen and Lee Causer of BDO appointed as joint administrators.

In accounts for the year to August 31 2023, the company reported turnover of £26.8 million, up from around £21.1 million a year earlier, and post-tax profits of around £582,000, compared to approximately £330,000 the previous year.

At the time, its fixed assets were valued at around £61,000 and current assets at £11.4 million, with total equity standing at slightly over £2 million.

Maccplas Limited – October 4
Maccplas Limited, a Macclesfield-based supplier of building products, fell into administration in September, appointing James Fish and Craig Johns of Cowgills as joint administrators.

In accounts for the year to December 31 2022, the company’s fixed assets were valued at around £202,000 and current assets at approximately £2.7 million, while net assets stood at just over £500,000.

Find out more about M&A in the UK’s building products and services market

The Martlet Group Limited – October 7
The Martlet Group Limited, a cycling company that owns the I-ride and ORRO Bikes brands, fell into administration last month, with Philip Armstrong and Philip Watkins of FRP Advisory appointed as joint administrators.

In accounts for the year ending December 31 2022, the company reported turnover of around £11.3 million, down from £13.3 million, while post-tax profits fell from approximately £520,000 to around £14,000.

At the time, directors stated that the company had experienced “a challenging year in the market” but added that they were “confident for the future and feel that the company will continue to see an increase in its revenue and profits.”

The group’s fixed assets at the time were valued at around £605,000 and current assets at £8.4 million, with net assets standing at £2.6 million.

PolyGlobal Limited – October 7
PolyGlobal Limited, a Wakefield-based polyurethane plastic manufacturer and supplier specialising in injection and cast mouldings, fell into administration last week, appointing Philip Booth of Booth & Co as administrator.

In accounts for the year to February 28, 2023, the company’s fixed assets were valued at around £882,000 and current assets at approximately £2.2 million, with net assets amounting to £991,528.

Finnsworth Limited – October 8
Finnsworth Limited, a London-based manufacturer of bespoke plastic and metal products for the construction industry, fell into administration last week, appointing James Snowdon and Georgina Eason of MHA as joint administrators.

In accounts for the year ending December 31 2023, the company’s fixed assets were valued at approximately £1.1 million and current assets at slightly over £1 million, with net assets amounting to around £254,000.

Find out about the latest trends in the manufacturing industry

Fourpure Limited – October 8
Fourpure Limited, a craft beer brewery in London, was placed into administration last week, with David Hudson and Philip Reynolds of FRP Advisory appointed as joint administrators.

The company is owned by craft beer portfolio group In Good Company, which also owns Magic Rock. The group placed Fourpure into voluntary administration, saying the move would “protect the brand from future liability, the ongoing market pressures and tough commercial realities in the drinks and hospitality industries”.

Fourpure previously applied for a company voluntary arrangement in March 2024 to gain more time to repay its creditors. Its site in Bermondsey closed last month, but In Good Company has said the company will continue to operate, with its beers being brewed and canned at Magic Rock Brewing.

In Good Company CEO Steve Cox said: “Anyone in the craft beer, drinks and hospitality sectors will be familiar with the current challenges of operating in this space. We are determined to keep taking positive strides to safeguard In Good Company and its portfolio to allow for growth and innovation.”

Fourpure Limited’s most recent accounts at Companies House were filed for the year ending December 31 2021, prior to its 2022 acquisition from Lion by In Good Company. During that period, the company reported turnover of around £6.2 million, but fell to a £3 million post-tax loss.

At the time, its fixed assets were valued at £5.8 million and current assets at £4.2 million, with net liabilities amounting to around £13.5 million.

Find out more about soaring insolvencies in the UK brewing sector


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