John Haynes & Company Limited (00689552): administration
- Status
- Administration ended
- Administration began
- 2013-12-10
- Administrators
- Peter John Godfrey-Evans, Christopher Laughton
- Administrators' firm
- Antony Batty
- Incorporated
- 1961-04-12
- Location
- London
- Industry
- 47770 Retail sale of watches and jewellery in specialised stores
From the administrators' statement
The Company was incorporated in 1961 and traded for many years with a good reputation In February 2010 the Company was subject to an armed robbery, with Mr Haynes suffering a significant assault in the process The robbery was covered on Crimewatch shortly afterwards but no information was received which could lead to the recovery of any of the stock stolen from the shop Mr Haynes was extremely shaken up by the robbery and submitted an insurance claim in the amount of £439,257, which included stock owned by the Company with a value of £298,382, third party stock and a claim for business interruption However the Company's insurer subsequently voided the insurance policy because of a failure to implement a number of security improvements in the weeks prior to the robbery
Mr Haynes continued to trade and believed that he could make the business profitable again, however trading was hampered by the lack of quality stock following the robbery Since the robbery he has invested somewhere in the region of £110,000 by way of his pension, inheritance from his deceased mothers estate, and through an associated company Despite this investment trading continued to be difficult and a former director, and long time employee of the Company, finally resigned in July 2013 This left Mr Haynes as the sole director and sole employee of the Company
He continued trading but found it increasingly difficult to deal with the demands of the business and initially approached Mercer & Hole on 28 August 2013 tn relation to the Company's solvency and ability to continue to trade
Administrators' statement of proposals (2014-02-13) · Companies House register