The 79th Group - Case Update

Quantuma Advisory, the joint administrators of various entities within The 79th Group, have released their proposals outlining what led to the Group’s downfall, as well as their plans for the administration process.

Several companies within The 79th Group, a North West investment business which marketed itself as an asset manager in the real estate, wealth, aviation and mining industries, entered administration between March and June. Quantuma were appointed joint administrators to 11 of these entities (with five appointments being joint with Kroll Advisory), while Grant Thornton Belfast were appointed joint administrators to one entity.

According to Quantuma’s report, the Group derived its profits from developing the assets held within the Group and selling them for a profit. These profits were then to be used to repay investors’ interest payments and capital upon redemption (typically a 12-17% return). Approximately £150 million has been raised from about 3,700 investors across the UK, Europe, Asia and the Middle East. The future redemption value of these investments is approximately £203 million as at March 2026.

In late February 2025, the City of London Police made several arrests in connection with an ongoing investigation into a suspected widespread fraud involving the Group. As a result of these investigations and the ensuing adverse press, the Group was unable to raise further investment or meet its daily trading costs. Additionally, some of the Group's banking providers took steps to "debank" the Group—a process whereby a bank will de-risk and either close or restrict the use of funds within the account—causing immediate cashflow issues.

Quantuma were engaged in mid-April, around the same time that a number of investors issued winding up petitions against various Group companies. The joint administrators’ investigations are at an early stage, but indicate that the Group did not segregate investor funds in separate ringfenced accounts and may not have applied investor funds in the manner represented to investors. Accordingly, the joint administrators believe it may be in the best interests of investors to pool funds and for investors to participate directly in any dividends arising at the Group level. A court application to consolidate the administrations will likely be required for this purpose.

Read the joint administrators’ proposals HERE. Quantuma have engaged legal advisors from Gateley Legal, while Kroll have engaged Crowell & Moring.

Landwood Group have been instructed to realise the assets from three properties. Two of the three properties are still on sale—a former workhouse turned hospital administration building in Northumberland and a two-storey office building in Warrington—while a former cinema in Birkenhead has already sold.