LHY Developments Limited (01017663): administration
- Status
- Administration ended
- Administration began
- 2017-10-10
- Administrators
- Andrew Graham Mackenzie, Julian Pitts
- Administrators' firm
- Begbies Traynor
- Formerly
- Doortekch Limited; Envirodoor Limited; Envirodoor Markus Limited; Markus Hermetic Doors Limited
- Incorporated
- 1971-07-14
- Location
- Hull
- Industry
- 43999 Other specialised construction activities n.e.c.
Why it went into administration
- Funding withdrawn / unable to refinance
- Competition / price pressure
From the administrators' statement
Begbies Traynor (Central) LLP (“Begbies Traynor’) were initially introduced by the Company's bank, Santander UK Plc (“the Lender’), on 25 July 2017 as the Company was considering several refinance options which they had initially hoped would be completed within 3 to 4 weeks. A number of alternative funding options were considered by the Company and subsequently professional advice was obtained in relation to the ongoing financial difficulties facing the Company.
On 14 August 2017, Begbies Traynor was formally instructed by the Lender and the Company to carry out regular verbal updates whilst the Company secured the refinance and to review the following:
. The debtor ledger.
Administrators' statement of proposals (2018-02-07) · Companies House register