Preddy Newco Limited Enters Administration
Retail pharmacy operator PREDDY NEWCO LIMITED has entered administration under Schedule B1 to the Insolvency Act 1986. Formal appointment of administrators was recorded on 3 November 2026 in The Gazette under notice code 2410, following an application filed in the High Court of Justice Business and Property Courts of England and Wales.
The appointment places an immediate statutory moratorium across the company, freezing unsecured creditor enforcement actions and halting outstanding legal claims without court leave or administrator consent.
Gazette notice details
The statutory appointment details published in The Gazette record the following administration filing:
| Notice Detail | Public Record Entry |
| :--- | :--- |
| Company Name | PREDDY NEWCO LIMITED |
| Company Number | 09728345 |
| Gazette Notice Date | 3 November 2026 |
| Notice Code | 2410 (Appointment of administrators) |
| Court | High Court of Justice Business and Property Courts of England and Wales, Insolvency & Companies List (ChD) |
| Court Case Number | CR-2026-8359 |
| Appointing Party | [Shown in the creditor report →](#offers-creditor) |
| Administrators | [Shown in the creditor report →](#offers-creditor) |
| Administrator Firm | [Shown in the creditor report →](#offers-creditor) |
Company snapshot
Records at Companies House show Preddy Newco Limited was incorporated on 12 August 2015 as a private limited company. The company trades within the healthcare and pharmaceutical sector under SIC code 47730 (Dispensing chemist in specialised stores).
- Registered office: 213 St. John Street, London, England, EC1V 4LY
- Company status: Active (administration notice filed)
- Latest filed accounts: Check filed accounts and balance-sheet solvency via free company monitoring
Directors and ownership
Companies House records document the current and historical officers for Preddy Newco Limited, as well as its registered persons with significant control (PSCs).
Current and Former Directors
- Mr Jagdeesh Singh Cheema: Director, appointed 1 August 2019. British nationality, resident in England, born May 1977.
- Mr Kirandeep Singh Cheema: Director, appointed 4 November 2024. British nationality, resident in England, born November 1985. Register records show a prior directorship from 1 August 2019 to 16 June 2020.
- Ms Satinderjit Kaur Cheema: Director, appointed 1 February 2020. British nationality, resident in England, born June 1963.
- Mr Leonard John Frederick Preddy: Former director, appointed 12 August 2015, resigned 1 August 2019. British nationality, resident in England, born July 1931.
Persons with Significant Control
- Allcures Plc (Company Number 03732995): Active corporate PSC notified on 1 August 2019. Holds 75% to 100% of shares, 75% to 100% of voting rights, and the right to appoint and remove directors.
- The John Preddy Company Limited (Company Number 01179526): Ceased corporate PSC, notified 6 April 2016, ceased 1 August 2019. Held 75% to 100% of shares and voting rights during tenure.
All officer and shareholding details reflect public statutory filings. Public register records provide corporate governance data and do not imply any personal misconduct or liability.
Administration impact and creditor guidance
An administration filing fundamentally alters creditor remedies. The following framework outlines what the statutory moratorium means for counterparties, together with practical steps for suppliers and lenders.
Practical Response Framework for Trade Creditors
1. Cease Deliveries on Credit: Immediately withhold pending shipments or services on open credit terms. Require payment upfront or formal administrator undertakings for any ongoing trade.
2. Review Retention of Title (RoT): Inspect trade contracts for valid RoT clauses. Notify the appointed administrators in writing regarding identifiable, unpaid stock remaining on company premises.
3. Lodge Proof of Debt: Submit formal statement of claim documents to the administrators, providing itemised invoices, statements of account, and contractual delivery receipts.
4. Audit Related Group Exposures: Perform an immediate check across parent entities, subsidiaries, and common directorships to assess cross-guarantees or secondary exposure.
Scenario: Trade Supplier Moratorium Exposure
Consider an independent pharmaceutical wholesaler with £45,000 in outstanding 30-day invoices due from an operating pharmacy company that suddenly enters administration under Schedule B1.
Upon filing, paragraph 43 of Schedule B1 prevents the wholesaler from issuing legal proceedings, enforcing county court judgments, or repossessing stock without administrator consent. However, by acting immediately to issue an itemised inventory demand citing their contractual retention-of-title clause, the supplier preserves their claim over identifiable medicines held at dispensary premises. Unsecured balances must be scheduled on formal proof-of-debt forms sent directly to the administrators for inclusion in the initial statement of proposals.
Note: This analysis provides general operational information regarding statutory administration under UK insolvency law and does not constitute formal legal or financial advice.
How credit teams monitor counterparty distress
Corporate credit teams and commercial finance providers traditionally track insolvency risk through manual lookups: checking the rolls of the Chancery Division, phoning court registries, or monitoring periodic Gazette updates. However, manual checks often miss the brief window between petition presentation and administration orders.
Running a prompt winding up search detects petition listings and court filings before statutory advertisements appear. By consolidating cause lists, Companies House filings, and Gazette appointments, Corp Intel provides automated visibility into critical solvency milestones.
For credit teams and commercial suppliers
Credit underwriters, factoring lenders, and pharmaceutical distributors must conduct counterparty checks before extending trade facilities or renewing wholesale contracts. Failing to spot an administration application risks trapped stock, unrecoverable debts, and unhedged balance-sheet losses. Performing a structured winding up petition search ensures that pending court applications are identified before credit exposure increases.
Recent filings and Gazette activity
The Gazette recorded notice code 2410 on 3 November 2026, confirming the administration appointment under court reference CR-2026-8359. Commercial counterparties should monitor upcoming filings for the administrators' formal statement of proposals and initial report under Rule 3.35 of the Insolvency (England and Wales) Rules 2016.
FAQ
What does Schedule B1 administration mean for Preddy Newco Limited?
Administration places the company under the statutory control of licensed insolvency practitioners. Its primary purpose under Schedule B1 to the Insolvency Act 1986 is to rescue the company as a going concern, achieve a better result for creditors than winding up, or realise property to distribute funds to secured or preferential creditors.
How can creditors submit claims in the administration?
Creditors should submit a formal proof of debt to the administrators. The submission must include copies of unpaid invoices, statements of account, contractual terms, and evidence of any security or retention-of-title rights held over company assets.
Where can I check if a company has an active winding up petition?
Professionals can conduct a dedicated winding up search to identify filed petitions, pending hearings, or court-issued winding up orders through Central Registry and High Court cause-list records.
How does the administration moratorium affect court proceedings?
Under paragraph 43 of Schedule B1 to the Insolvency Act 1986, an administration imposes an automatic moratorium. No legal process, execution, or distress may be instituted or continued against the company or its property without the permission of the court or the consent of the administrators.