Administration · 23 September 2024
Extraspace Solutions (UK)
Main contractor · Belfast · Northern Ireland
What happened
EXTRASPACE SOLUTIONS (UK) LIMITED (company number NI050211), incorporated in 2004, entered administration on 23 September 2024. Its status at Companies House is now: administration.
Why it failed
Heavy losses on three legacy contracts, with delays, defects and cost overruns, were funded by its owner, who stopped funding when a planned ISG sale failed and ISG collapsed.
- Main reason: Losses on contracts
- Delays
- Legal claims
- Cash flow
- Funding withdrawn
- Group company failed
Our summary of the reasons given in the administrators' proposals. These record the administrators' and directors' account of what happened.
An administrator, a licensed insolvency practitioner, takes control of the company to try to rescue it, sell the business or get a better result for creditors than a liquidation.
Previously known as: EXTRASPACE (NI) LIMITED.
Timeline
The last accounts and payment report before the failure, then what happened, with the time between each.
31 December 2022
Last accounts filed were made up to this date
21 months later
23 September 2024
Administration started
AccountsPayment reportInsolvency
Before it failed
Key figures
The last accounts filed were full accounts made up to 31 December 2022, 21 months before it went into administration.
The full filing history, including any late filings, charges and director changes, is on Companies House.
Lessons learned report
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