Doorsteps assets sold for just £3,000

The intellectual property of collapsed online agency brand Doorsteps has sold for just £3,666.

Begbies Traynor, the liquidator for Doorsteps, sought offers for the failed company’s intellectual property and goodwill last year including its domain name, trademarks and Trustpilot account.

Prospective buyers were messaged by restructuring firm Hilco Streambank, seeking offers to acquire the assets of Upside Capital Limited, which traded as Doorsteps.

Companies House documents published this week show that despite an already uncertain valuation of £6,600, the assets were marketed and sold for £3,666.

Doorsteps entered voluntary liquidation in October 2022 and a statement of affairs shows it had £538,786.88 worth of creditors.

The largest sum owed was £125,000 each to the Treasury’s emergency Covid support scheme the Future Fund and to one of its early backers Julian Mylchreest of Bank of America.
Rightmove is owed £83,400 and HMRC is owed £15,108.60, the document shows.

Its founder, Akshay Ruparelia, who stepped down as chief executive and director of the business last year, is also owed £1,297.03.

Mahesh Kotecha, the current director of the business is owed £55,000, according to the document.

Begbies Traynor said it is “currently uncertain” if there will be sufficient funds to repay a dividend to unsecured creditors.