Magnet Group Limited entered administration on 3 August 2026. The administrators are Stephen John Absolom and Ryan Kevin Grant of Interpath Advisory.
In its last payment practices report before the administration, for the period from 1 January 2025 to 30 June 2025, the company said it took an average of 54 days to pay its suppliers' invoices and paid 32% within 30 days. It said 38% were not paid within the agreed terms. That was 7 days faster than in its previous report, for the period to 31 December 2024.
The administrators must send creditors their proposals, including an estimate of what unsecured creditors will receive, within eight weeks of their appointment.
Suppliers owed money by Magnet Group Limited should total every unpaid invoice, including VAT, and send a claim to the administrators. The case page has the contact details for creditors, the dates, and a step by step plan, and the company page has every payment report it filed.
About these figures
Figures are what each company filed on the government's Check payment practices service, as downloaded on 9 November 2026. Large companies and limited liability partnerships must report every six months under the Reporting on Payment Practices and Performance Regulations 2017. Unless stated, each company's latest report is used, counting only periods that ended on or after 10 May 2025, and reports with figures that cannot be right are left out. Companies whose latest figures look inconsistent with their earlier filings, such as an average more than double their previous report, are not named in our stories; they stay in the tables with a note. How we use the data.
Source: Check payment practices, under the Open Government Licence v3.0, The Gazette and Companies House.