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.”