# Forthglade Limited (01036318)

> Why UK company 01036318 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/01036318

- **Status:** Administration ended
- **Administration began:** 2011-09-13
- **Administrators:** William John Kelly, Ian Walker
- **Administrators' firm:** Begbies Traynor
- **Incorporated:** 1971-12-29
- **Location:** Exeter
- **Industry:** 1572

## Why it went into administration

- Creditor pressure / legal action
- Cash flow / liquidity pressure
- HMRC / tax arrears
- Competition / price pressure

## From the administrators' statement

The Company was incorporated on 29 December 1971 and has traded since that date from leasehold premises at Winkleigh, Devon. At the date of the appointment of the administrators the Company employed 77 employees

The Company was funded by its bank, Lloyds TSB Bank plc (“Lloyds”), which provided a loan facility in respect of a small freehold residence at the site together with an overdraft facility It was also provided with an invoice discounting facility by Lloyds TSB Commercial Finance Limited (“LTSBCF”) in respect of Its sales invoices

Following a review of the business by its directors in mid-2011 the directors discovered that the business was experencing cashflow difficultes Additional funding was obtained in order to meet the short-term trading costs and payment plans were set in place with major creditors to reduce creditor pressure

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/01036318/filing-history/MzA0NjgwMDY5N2FkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/01036318

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