The innovative eCommerce fulfilment company Huboo Technologies Limited (now operating as Hub Realisations Limited Company number 09727464) has entered administration. The company obtained more than £118 million in equity funding and £20 million in secured debt before its inability to reach profitability. Multiple stakeholders who invested in this company now wonder about its financial failure despite its substantial funding. The original company HUB REALISATIONS LIMITED (Company number 09727464) has undergone a rebranding to become HUB REALISATIONS LIMITED but a new entity named HUBOO TECH LIMITED (Company number 16143472) appeared in December 2024. Does this new company possess the integrity that customers need?
The Warning Signs: How Huboo’s Downfall Began
Huboo encountered multiple problems during its operation which did not develop suddenly. Since its establishment in 2019 the company has failed to present any positive EBITDA results. The financial reports submitted to Companies House demonstrate the following data:
2022: Losses of £47,108,825 on a turnover of £17,750,587
2021: Losses of £13,389,157 on a turnover of £13,759,886
2020: Losses of £3,539,804 on a turnover of £4,210,280
The company experienced growing revenues yet its losses expanded to such an extent that proved its business model was doomed for failure. Multiple investors provided their money to the company but it disappeared into a profitless operation.
Failure to Pay Employees and Collapse into Administration
In December 2024 Huboo faced such a severe financial crisis that it became unable to pay its employees. The company could not afford to pay its December payroll of £1.2 million right before Christmas. On December 12, 2024, the last attempt to get new investment failed when the lead investor decided to withdraw. The company assets sold for £9 after Huboo became insolvent on December 23, 2024 because it lacked funding.
Investor and Creditor Wipeout
The investors who invested £118 million in Huboo will probably receive zero return on their investment. The secured creditors including Kreos Capital and MIC Capital Partners face financial loss. The unsecured creditors face no chance of recovering their investment.
The ‘New’ Huboo: Can Customers Trust It?
The asset acquisition by Brislington Tradeco Limited enabled the establishment of a new company called Huboo Tech Limited. With the identical leadership and business framework along with minimal evidence of change can clients have confidence in this revised edition of the failed company?
Conclusion
The collapse of Huboo has brought forth critical issues. Why did clients maintain their business relationships with the company as its financial performance worsened? Why was this kept from clients? The main question remains whether any business should risk using Huboo Tech Limited. The financial records clearly show that this company operates with unstable financial stability.
