R R Richardson Limited (00985986): administration
- Status
- Administration ended
- Administration began
- 2014-11-03
- Administrators' firm
- Evelyn Partners
- Formerly
- SGMS Property Solutions Limited; R.R. Richardson Limited; R.R. Richardson PLC; R.R.Richardson & Company Limited
- Incorporated
- 1970-08-03
- Location
- Southampton
- Industry
- 41202 Construction of domestic buildings
Why it went into administration
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- Creditor pressure / legal action
From the administrators' statement
The Company was Incorporated on 3 August 1970 and was acquired by R R R Acquisitons Limited (“Acquisitions”) in July 2005 by virtue of its acquisition of the Company’s parent company, R R Richardson Holdings Limited (“Holdings”) Acquisitions was a subsidiary of Chaldean I LLP, which was controlled by tts members Anthony Forbes, David Morrison, Gordon Morrison and Mary Morrison In July 2005 the Company’s issued share capital was £50k, subsequently increased to £1,825k in 2007 and £2,050k In 2011
The share issue in 2007 was a cash injection of £1,825k from Holdings, the £225k Increase In 2011 was the capitalisation of an existing loan from R R Richardson Trustees Limited
In 2010 the Company’s shares were acquired by the existing shareholders (see Appendix I) from Holdings as part of a group reorganisation
Administrators' statement of proposals (2015-01-06) · Companies House register