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Bluehat directors unaware of debt figures

Ben Parkinson admits not knowing what is still owed to creditors as he and Neil Harvey launch new company
16/06/2017

Pictured: Bluehat director Ben Parkinson

A Bluehat director whose company went into liquidation with more than £800,000 in debts has admitted he doesn't know what is still owed to creditors as he relaunches the brand under a new company.


But Ben Parkinson told M&IT he and business partner Neil Harvey hoped to help as many of the smaller creditors as possible, once their new enterprise Blue Hat Teambuilding was off the ground.


Accounts filed in Companies House show employees were owed £14k while trade suppliers and partners were out of pocket £179k when Bluehat UK Ltd went into liquidation in April.


Parkinson and Harvey have since bought the assets from the liquidators and applied in court to use the name Bluehat in trading, which was granted. They announced their new agency, Blue Hat Teambuilding, under the newly-formed company P&H Events, this week.


Asked how much was left due, and how he planned to repay it off, Parkinson told M&IT: "The liquidation of Bluehat UK Ltd is still in progress and in truth we do not have access to that information."


He added: "Businesses do falter and are forced into liquidation due to unforeseen market circumstances beyond their control. A complete softening of the market in a crucial period for Bluehat UK resulted in the company having no choice but to call in the receivers/ liquidators. The decision of Neil and I to buy out the assets relating to the original core activities was undertaken with the hope that, over the course of time we could take care of as many of the smaller creditors as we are able to when the new enterprise is able to support that process."


Parkinson said he was keeping his partners and clients informed. "We are in the process of meeting and communicating with clients. To date the response has been incredibly supportive. They demand the very best team building solutions and know that we are the people in the industry who are able to create them."


He added: "Bluehat UK Ltd. went into liquidation due to diversifications between Oct 2014 and Mar 2015 which it ultimately was unable to recover from. Recognising the team building part of the business was always strong and having been the creative force behind the award winning games, Neil Harvey and I bought the assets from the liquidators. As part of this process, we made an application to court to be able to use the name Bluehat in trading and this was granted. It’s the brand that clients associate with innovative and engaging team building solutions and we wanted to ensure that it was still available to both agency and corporate bookers who are looking for a more sophisticated, intelligent and worthwhile interactive based activity for their teams."


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