THA Group dissolved after debt-led collapse

THA Group has been formally dissolved after being put into administration in July last year.

THA Group founder Kevin Ingram
THA Group founder Kevin Ingram

The embattled THA Group - which collapsed owing unsecured creditors £6.4m - has now been dissolved.

Its founder, Kevin Ingram, set up a new events business - The Waterford House Partnership - in September 2009 with three former THA Group staff.

Reports filed by THA Group’s administrator, KPMG, at companies house, estimated that the agency’s total assets available for preferential creditors were valued at £193,382.

THA Group owed RBS £1.7m when it went into administration in July 2009.

KPMG said that continuing to trade THA Group was "not a viable option".

BI Worldwide subsequently bought THA Group assets worth £49,997 in July last year, according to KPMG.

When KPMG was appointed as administrator, THA Group had debtors with a book value of £535,000.

BT used the Waterford House Partnership for its 2009/10 Masters Club event in Istanbul after THA collapsed, amid industry concern over the telecoms firm's use of an agency not on its roster.

Adding Value has now been appointed for the 2010/11 sales incentive programme following a competitive tender.

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