Bullitt Group, a UK-based manufacturer of ruggedized phones, has concluded its liquidation process without recovering any funds for its creditors. After encountering financial issues in 2023, the company entered administration in 2024, leading to the redundancy of all staff. The administrator's report revealed that both of its subsidiary companies, Bullitt Bidco Limited and Bullitt Mobile Limited, were fully wound up with no realizations of assets sufficient to pay even secured or preferential creditors, including former employees and HMRC, demonstrating the company's financial mismanagement.
Bullitt Group's liquidation process has concluded without funds for creditors, including secured and preferential creditors, indicating severe financial mismanagement and failure to recover assets.
Following financial difficulties in 2023, Bullitt Group went into administration in 2024, leading to the redundancy of all employees and a complete lack of asset recovery.
The final report highlights that both Bullitt Bidco Limited and Bullitt Mobile Limited were wound up, with no money available to repay any creditors due to insufficient realizations.
Despite being well-known for rugged smartphones, Bullitt Group's inability to manage finances meant that even former employees and HMRC received nothing from the liquidation process.
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