Extraspace Solutions (UK) and Spatial Initiative - Administration

Extraspace Solutions (UK) and its subsidiary Spatial Initiative, which operate Hull-based offsite specialist ESS Modular, entered administration on 23 September. Tim Vance, Charles King and Andrew Dolliver of EY were appointed joint administrators.

The companies are owned by Cathexis, which also owns ISG. Notwithstanding ISG’s own collapse into administration earlier this month, the joint administrators have emphasised that the companies are part of a separate corporate structure and the administration of ISG was not the catalyst for the insolvency of ESS Modular.

The administrators also said that significant losses on legacy contracts had placed the companies under severe liquidity pressures and that it had not been possible to raise additional funding. The majority of the 100 staff have been made redundant. 

Cathexis has a registered charge against Spatial Initiative.