Hawtin Public Limited Company (00007317): administration
- Status
- Administration ended
- Administration began
- 2011-04-04
- Administrators
- Robert Nicholas Lewis, Roger Gareth Hale, David Christian Chubb
- Administrators' firm
- PwC
- Incorporated
- 1873-05-16
- Location
- Leeds
- Industry
- 7415
Why it went into administration
- Property / lease costs
From the administrators' statement
A Law of Property Act Receiver was appointed by AIBC in November 2010 over a property owned by one of the Company’s subsidiary companies. The Company had given a parent company guarantee of £3m in respect of the property
The directors entered into discussions with AIBC to seek a solution which may have secured a better position for AIBC and the Company but these discussions were not successful.
The property was subsequently sold for an amount below the debt owed by the subsidiary to AIBC and the parent company guarantee was called upon The Company received a demand on 29 March 2011 from AIBC for the immediate payment of £3m The Company was unable to meet this habuility and the directors appointed the Administrators on 4 April 2011.
Administrators' statement of proposals (2011-06-09) · Companies House register