00410560 Limited (00410560): administration
- Status
- In administration
- Administration began
- 2025-01-10
- Administrators
- Joanne K Rolls, Franklyn Ofonagoro
- Administrators' firm
- Opus Restructuring
- Formerly
- GEO. Adams & Sons (Retail) Limited
- Incorporated
- 1946-05-15
- Location
- Milton Keynes
- Industry
- 10890 Manufacture of other food products n.e.c.
Why it went into administration
- Sustained trading losses
From the administrators' statement
No Moratorium under Part A1 of the Act has been in force for the Company at any time within the period of 2 years ending with the day on which it entered Administration.
Priot to the Joint Administrator’s appointment, the Mark Price, A Director of the Company contacted Opus on 12 November 2024 to seek advice regarding its options should the injection of further funds and the proposed restructuring not be successful. At this stage it was anticipated that the Company would be able to move to break even and eventual profit. We would advise that It was noted the proposed Joint Administrator, Joanne Kim Rolls, had previously met Mark Price when he worked for Metro Bank Plc. . However, no direct relationship existed, nor was any work introduced by directly by Mark Price during his time at Metro Bank Plc. On 23 December 2024, when it became clear that the Company could not achieve break even, the Company contacted Joanne Rolls for further advice resulting in the instruction Opus and Hilco Appraisal Ltd T/A Hilco Valuation Services (“Hilco”) to undertake a period of marketing the business and assets of the company for sale, with the view to a sale being concluded by administrators. The marketing process commenced on 23 December 2024. At this point, there were clear advantages in seeking to sell the Company’s business and assets swiftly on appointment. …
Therefore, as the advising the proposed administrators, with the assistance of Hilco, being professional and independent agents, considered the most effective method of securing a sale seeking the best outcome for creditors as a whole.
Administrators' statement of proposals (2025-02-14) · Companies House register