Lines and Jones, Limited (00433081): administration
- Status
- Administration ended
- Administration began
- 2018-11-28
- Administrators
- Andrew Watling, Carl Stuart Jackson
- Administrators' firm
- Quantuma
- Incorporated
- 1947-04-14
- Location
- Southampton
- Industry
- 25990 Manufacture of other fabricated metal products n.e.c.
Why it went into administration
- Creditor pressure / legal action
From the administrators' statement
3.1 In late 2018 the Company was experiencing financial difficulty. Three creditors had obtained County Court Judgments and one supplier had instructed Bailiffs to seize goods. The Company was unable to offer any payment plans and had insufficient lending facilities in place that could be extended to meet the outstanding liabilities owed. The director was introduced to Quantuma LLP and a Notice of Intention to Appoint Administrators was filed at Court of 15 November 2018 and served on Advantedge Commercial Finance (North) Limited and Asset Advantage Limited (both being secured creditors of the Company) on the same date.
3.2 On 28 November 2018, Andrew Watling, and Andrew Watling of Quantuma LLP were appointed Joint Administrators of the Company following the filing of a Notice of Appointment of Administrators by the Director.
3.3. The Joint Administrators confirm that they are authorised to carry out all functions, duties and powers by either one or both of them.
Administrators' statement of proposals (2019-01-29) · Companies House register