# Lynplan Limited (00963634)

> Why UK company 00963634 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/00963634

- **Status:** Administration ended
- **Administration began:** 2011-09-09
- **Formerly:** Argeve Limited
- **Incorporated:** 1969-10-09
- **Location:** London
- **Industry:** 5244

## Why it went into administration

- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- HMRC / tax arrears

## From the administrators' statement

Lynplan was tmcorporated and began trading in October 1969 as Argeve Limited until changing its name to Lynplan tn June 1984 The founding shareholder was Richard Vipond, the father of the present majority shareholder and former Chairman, Andrew Vipond _ It moved to the current premises at 43 Imperial Way, Croydon around 1970 These premises are held under a long lease from Sutton County Council

The company manufactures loose covers, fitted and bespoke covers for sofas, chairs and other household furniture It has an extensive library of patterns for furniture produced by the major manufacturers and, where these are unavailable, can make patterns from scratch The company advertises extensively in the Sunday national press and a sales offtce in Croydon process telephone orders for loose and fitted covers For bespoke covers, the sales office allocates enquiries to a national team of sales representatives who visit the potential customer, take the order and organise the collection and delivery of the furniture to the factory in Croydon There is a separate company under common ownership, Econormine Limited, which 1s based in Lincolnshire and specialises in curtains | have not been appointed to this company and tt survives as an independent operation

The business traded successfully for many years until encountering trading difficulttes with the onset of the recession in 2007/2008 Coincidently, Andrew Vipond was diagnosed with terminal cancer His treatment programme proved extremely debilitating and he was unable to monitor company activities as closely as previously A loss of £63k was incurred in 2008, the company made a marginal profit in 2009, and then descended tnto heavy losses in 2010, although these were offset by the pay-out on a key man insurance policy However, the Company's performance continued to suffer and, in May 2011, the Chairman requested an extension to the Company's overdraft facility from Barclays Bank

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/00963634/filing-history/MzA0ODI5MTc1OWFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/00963634

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.