Property business goes into administration
Nick Simmonds and Paul Zalkin of business advisory firm Quantuma have been appointed as joint administrators of A1 Alpha Properties (Leicester) Limited.
Founded in 2001, A1 Alpha Properties (Leicester) Limited is a development company of commercial, residential and retail assets. The company has a widespread portfolio across the UK, including student accommodation, retail units and serviced apartments, with an annual turnover of c.£1m.
The company ran into financial difficulties earlier this year due to unpaid sums owed to rental investors by the company, and Quantuma was appointed as administrators on the 21st February 2019. The process is being led by Quantuma partners, Nick Simmonds and Paul Zalkin.
As A1 Alpha Properties does not currently employ any staff, there will be no redundancies made as a result of the administration.
Nick Simmonds, Joint Administrator at Quantuma, said: “Due to ongoing financial difficulties, I can confirm that Quantuma has been appointed as administrators at A1 Alpha Properties (Leicester) Limited. As part of our role we will regularly update investors on our progress.”
“We are currently in the process of assessing the case, with the aim of achieving the optimum outcome for all stakeholders.”
Rebecca Thomas, MC2
0161 236 1352
Notes to Editors
Quantuma is a leading business advisory firm which works with businesses at the key milestones, delivering partner led solutions to help clients take advantage of opportunities and overcome a range of operational and financial challenges, enabling them to achieve their business objectives and ambitions. Offices in London, Southampton, Marlow, Watford, Brighton, Birmingham, Bristol, Manchester, Ringwood and Weymouth. In July 2018, the firm opened two international offices in Cyprus (Nicosia and Paphos).