Saints Transport Limited (00938694): administration
- Status
- Administration ended
- Administration began
- 2022-08-01
- Administrators
- Paul Ellison, David Ronald Taylor
- Administrators' firm
- KRE Corporate Recovery
- Incorporated
- 1968-09-12
- Location
- Reading
- Industry
- 49410 Freight transport by road
Why it went into administration
- HMRC / tax arrears
- Loss of a key customer, supplier or contract
- Funding withdrawn / unable to refinance
From the administrators' statement
3.1 The directors of the Company were referred to KRE Corporate Recovery Limited by the Company’s solicitors, Field Seymour Parkes, and held an initial meeting to discuss the Company's financial position and the options available to it on 6 July 2022.
3.2 The business was facing many issues, including two pending court cases and a breach of its time to pay arrangement with HMRC.
3.3 The Directors were exploring the possibility of refinancing the Company’s vehicles however they would have had to increase the level of their personal guarantees with the lender and any finance was dependant on securing a restructure of the TTP.
Administrators' statement of proposals (2022-09-28) · Companies House register