Shephard Conferences & Exhibitions collapses with £1.6m debt

Defence and aerospace events management business Shephard Conferences & Exhibitions is up for sale after going into administration.

Shephard Conferences & Exhibitions in administration
Shephard Conferences & Exhibitions in administration

The Slough-based event business collapsed with debts of more than £1.6m to creditors including events supplier Europa International, the Shangri-La Hotel Kuala Lumpur and the Bristol Marriott.

Cameron Gunn, Mark Supperstone and Simon Harris, of Resolve Partners, have been appointed joint administrators of the business and are currently seeking a buyer.

In an administrator’s report to members and creditors, filed at Companies House, Resolve Partners noted that is was "not achievable to rescue the company as a going concern".

This was because it traded at a loss, had "little in the way of assets", had creditors of around £1.6m and no contracts with customers which may have been preserved via a sale of shares. Total unsecured claims amounted to £1,044, 375, with assets available to cover those claims of £35,144.

Shephard Conferences & Exhibitions had after-tax losses in 2009 of £343,022, which reduced to £34,682 in 2010, but rose again in 2011 to £446,778.

The business itself had no direct employees as the work was carried out by staff working for associated business The Shephard Press, which is not in administration.

The company was acquired in 2007 by Nicholas Prest and Alexander Giles, and as at 31 December 2011 borrowed £608,000 from its parent company The Shephard Group – which is not in administration – to continue trading.

Prest demanded repayment of loans of £644,685 on 26 June, but the company could not meet the demand and agreed to appoint the adminstrators.

Have you registered with us yet?

Register now to enjoy more articles
and free email bulletins.

Register now
Already registered?
Sign in
How to follow food from farm to fork

How to follow food from farm to fork

Delegates increasingly want to know where their food is coming from, which means event planners should too.

Complete C&IT's agency survey by 2 August

Complete C&IT's agency survey by 2 August

To be in with a chance of appearing in this year's Top 50 UK Agencies, complete our State of the Industry survey.

TEN6 Creative appoints senior designer

TEN6 Creative appoints senior designer

London-based agency continues expansion to boost its live experiences capabilities.

6 ways incentive travel boosts your business

6 ways incentive travel boosts your business

From increasing morale to encouraging competition, Seven Events' Sarah Hill explains how incentive travel benefits the bottom line.

George P. Johnson announces two new senior hires

George P. Johnson announces two new senior hires

The agency continues to invest in leadership to support the development of its creative teams.

Brisbane lands Flight Centre's Global Gathering

Brisbane lands Flight Centre's Global Gathering

Brisbane has been selected to host one of the world's largest travel industry conferences, bringing a (AUD) $7 million economic boost.

Expert reveals UK's top 7 steam railway journeys

Expert reveals UK's top 7 steam railway journeys

Vintage trains in Scotland, England and Wales all make the list, offering groups a quirky and luxurious way to travel.

10 destinations to reach without flying

10 destinations to reach without flying

A list of places that can be reached using greener alternatives to air travel.

Business traveller habits revealed in new research

Business traveller habits revealed in new research

Smartphones are having a significant impact on business travel, according to a CWT poll.

How to tackle the rising issue of delegate stress

How to tackle the rising issue of delegate stress

There are lots of ways to remove the core stress triggers of certain delegates.

LATEST JOBS