Administration · 7 November 2023
Real LSE
Developer · Horsham · South East England · Part of Real
What happened
REAL LSE LIMITED (company number 12422424), incorporated in 2020, entered administration on 7 November 2023. Its status at Companies House is now: administration.
Why it failed
Group losses on a fixed-price contract portfolio exceeded expectations because of unprecedented inflation, delaying projects; creditor pressure and other group insolvencies left the company unable to trade.
- Main reason: Cost inflation
- Losses on contracts
- Delays
- Cash flow
- 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: RYDON LSE LIMITED.
Timeline
The last accounts and payment report before the failure, then what happened, with the time between each.
28 February 2022
Last accounts filed were made up to this date
21 months later
7 November 2023
Administration started
AccountsPayment reportInsolvency
Before it failed
Key figures
- Owed to unsecured creditors (estimated), as at 7 November 2023
- £7.3m
- of which trade creditors £7.2m. Expected return to unsecured creditors: none expected
- Administrators' proposals
The last accounts filed were full accounts made up to 28 February 2022, 20 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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