Sea View Coaches (Poole) Limited (01104119): administration
- Status
- Administration ended
- Administration began
- 2020-04-02
- Administrators' firm
- Begbies Traynor
- Incorporated
- 1973-03-26
- Location
- Bath
- Industry
- 49390 Other passenger land transport
Why it went into administration
- Sustained trading losses
- COVID-19
- Funding withdrawn / unable to refinance
- Competition / price pressure
From the administrators' statement
The Company was incorporated on 26 March 1973 with the aim of providing coach transportation services to members of the general public and local schools.
The Company has traded from its freehold premises in Poole, Dorset since its incorporation. It traded profitably for a number of decades, but first experienced difficulties in 2016. Sales saw a decline due to the number of new competitors; combined with the winter period, which was always low in sales, cash flow became increasingly tight. Some of the coaches were re-financed in order to raise funds which ensured overheads were covered, however in more recent months sales declined to their lowest numbers. The workforce was reduced to half of its numbers and many were on zero hours contracts or worked part time in order to ease the strain.
In October 2019, the company's bankers suggested that the directors take advice from our firm. This followed the winter season approaching and a letter of concem about the company’s ongoing losses from the Company’s accountants.
Administrators' statement of proposals (2020-06-03) · Companies House register