HMRC Files Winding-Up Petitions Against Pulsar Group and ResponseSource
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Pulsar Group, an AIM-listed technology firm, and its subsidiary ResponseSource are facing winding-up petitions filed by HM Revenue and Customs (HMRC) at the London High Court.
The Legal Pressure on Pulsar Group and ResponseSource
The financial stability of the Pulsar Group, formerly known as Access Intelligence, has come under intense scrutiny following the filing of two separate winding-up petitions. According to court records, the parent company was named in a petition filed last Friday, while its media matchmaking subsidiary, ResponseSource, was hit with a secondary petition on Monday.
A winding-up petition serves as a formal legal mechanism utilized by creditors—most frequently HMRC—to recover outstanding debts.
Market Reaction and Financial Performance
Pulsar Group shares traded at 28.00 on Monday afternoon, reflecting a sharp 10 per cent drop for the day. This downward trend is part of a broader decline, with the stock losing nearly 30 per cent of its value over the past year.
Interestingly, the group had recently reported record revenue of £33m for the six months ending May 31, 2026. This represented a 10 per cent increase from the £30.1m reported in the first half of 2025.
The subsidiary ResponseSource, acquired by the group in 2018 for £5.5m, has shown signs of contraction. Companies House accounts for the year ending 30 November 2024 revealed that turnover dipped from £3.62m to £3.40m. Furthermore, the firm’s operational footprint has shrunk, with the average monthly headcount falling from 20 to 14, and total payroll costs dropping from £1.15m to £745,000.