The company Huboo Technologies Limited (now Hub Realisations Limited Company number 09727464) which had millions in value ended up being sold for only £9 after its collapse in December 2024. The company which received more than £118 million in investments became worth less than the price of a food delivery.
What Did the £9 Sale Include?
Goodwill and Intellectual Property (worth just £1 each).
Shares in Holdco NL (valued at £1).
Stock, IT Equipment, Customer Contracts, and Business Records (each sold for £1).
What Was Left Out of the Sale?
The new owners did not take over any of Huboo’s outstanding debts or credit obligations.
Tax Liabilities and HMRC Debts – Over £2.1 million owed to HMRC remains unpaid.
Outstanding Customer Orders – Businesses left with unfulfilled orders were not compensated.
Why Was the Sale Price So Low?
Huboo’s assets had little tangible value.
The company had no financial stability, making it unattractive to buyers.
A quick pre-pack administration deal was necessary to save jobs and some operations.
Should Customers Trust Huboo Tech Limited?
The new company uses the same brand name but was purchased for almost no cost. When a business has such minimal worth can customers reasonably expect improved service this time?
Conclusion
The £9 sale of Huboo raises important questions about the actual value of the company. The new company Huboo Tech Limited must prove to its customers that its value exceeds the minimal purchase price of £9.
