Administration · 23 September 2024
Spatial Initiative
Developer · Hull · Yorkshire and the Humber
What happened
SPATIAL INITIATIVE LIMITED (company number 10887709), incorporated in 2017, entered administration on 23 September 2024. Its status at Companies House is now: liquidation.
Why it failed
Heavy losses and delays on a DfE school contract and four MoJ contracts were funded by its owner, which could not fund further after its ISG sale failed.
- Main reason: Losses on contracts
- Delays
- Funding withdrawn
- Sale or investment failed
- 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.
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
2 years later
24 September 2026
Administration ended
24 September 2026
Creditors' voluntary liquidation started (shareholders resolved to wind up)
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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