CPR REALISATIONS LIMITED

Risk Rating: HIGH Justification: The company is currently designated as "In Administration," indicating a fundamental failure of solvency. Furthermore, the recent name change to "CPR REALISATIONS LIMITED" (a standard UK insolvency convention) confirms the entity is no longer an operating going concern but a vehicle established solely for the orderly realization of assets and distribution to creditors.

Key Concerns: * Insolvency Status: The company is under the control of court-appointed administrators. This signifies that the company has failed financially and can no longer meet its debts as they fall due. Control of the entity has shifted away from the directors and shareholders to the administrators. * Cessation of Operations: The change of name from CARPETRIGHT LIMITED to CPR REALISATIONS LIMITED on 30 July 2024 strongly indicates that the operating business and its viable assets (e.g., stores, brand, inventory) have likely already been sold or closed. This entity now exists purely to wind down remaining affairs. * Regulatory and Filing Delays: Both the annual accounts (overdue since 31 December 2023) and the confirmation statement (overdue since 7 December 2024) are outstanding. While common in insolvency scenarios where administrative focus shifts to creditors, this represents a complete breakdown in standard corporate governance and compliance.

Positive Indicators: * Historical Longevity: The company was incorporated in 1988, giving it a 35-year operating history prior to its insolvency, which demonstrates a long-term, established presence in the UK retail and building sector. * Ownership Transparency: The PSC register clearly identifies Meditor Holdings Limited and Meditor European Master Fund Limited, providing full transparency on the ultimate controlling entities despite the operational collapse.

Due Diligence Notes: * Administrator Communications: Any further review requires obtaining the Administrator's Statement of Proposals and progress reports. This will detail the estimated realizations of remaining assets and the expected dividends for different classes of creditors. * Asset Disposition: Investigate the nature of the "Realisations" taking place. It is critical to determine if the underlying Carpetright business was sold via a pre-pack administration to a connected party or third party, and what residual liabilities remain within this specific legal entity. * Creditor Hierarchy: Review the secured creditor positions. Given that Meditor entities hold significant control and share capital, it is highly likely they also hold secured debt positions, which would dictate the distribution of any realized funds and likely leave unsecured creditors and shareholders with little to no recovery. * Last Filed Accounts: The last made-up date for accounts was 1 January 2022. Acquiring these 2021/2022 filed accounts is necessary to understand the trajectory of losses and debt accumulation that precipitated the recent administration.