Kids Company: Insolvency

(asked on 9th January 2018) - View Source

Question to the Department for Business, Energy and Industrial Strategy:

To ask the Secretary of State for Business, Energy and Industrial Strategy, if he will impose a deadline for the Insolvency Service to publish its report into Kids' Company; and if he will make a statement.


Answered by
Andrew Griffiths Portrait
Andrew Griffiths
This question was answered on 16th January 2018

Keeping Kids Company Limited was wound up by the court on 20 August 2015 and the Official Receiver was appointed liquidator. He has a statutory duty to report to the creditors of the company as to the assets, liabilities and cause of failure; and to my Rt Hon Friend the Secretary of State concerning the conduct of the directors.

The Official Receiver reported to the creditors on 30 September 2015 and 22 August 2017.

As a result of the report on the conduct of the directors the Insolvency Service has commenced proceedings to disqualify those individuals from acting as directors for a period of time. While those proceedings are underway they must be conducted without prejudice so no further statement can be made. Once these proceedings are concluded the Insolvency Service will announce such details as are appropriate.

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