Time GB Group Limited - Administration

Time GB Group Limited, the finance centre for caravan business RoyaleLife, entered administration on 9 October. The company handled payments and transfers for the 200 entities forming part of the RoyaleLife group, many of which have now become insolvent following a number of economic and corporate challenges. Cameron Gunn, Lee Manning and Simon Jagger of ReSolve were appointed joint administrators, and said that the administration will be complex, since there are a number of creditors and insolvency proceedings which are currently ongoing in respect of some of the other approximately 200 entities. Sines Parks Holdings Limited, Sun Assignment Ii Llc, Glas Trust Corporation Limited, Jdi Asset Finance Limited and Icg-Longbow Investment No.5 S.À R.L. have registered charges against the company.