Impex Creative Crafts Limited (01165448): administration
- Status
- Administration ended
- Administration began
- 2011-07-14
- Administrators
- Neil A Bennett, Michael Charles Healy
- Administrators' firm
- Leonard Curtis
- Incorporated
- 1974-04-03
- Location
- London
- Industry
- 5190
Why it went into administration
- HMRC / tax arrears
- Competition / price pressure
- Cash flow / liquidity pressure
- Funding withdrawn / unable to refinance
- Creditor pressure / legal action
- Loss of a key customer, supplier or contract
- Weather / natural events
From the administrators' statement
. .» #531. >.This report should be read in conjunction with our, intial report se sent to all known creditors on 25 July 2011 en Spec om tau Lain eh tee ~ Tree youtt os 32 The Company was incorporated on 3 Apnil 1974 and traded as a wholesale supplier of craft items The Company was purchased by Mr Goodrich and Peter Jackson (“Mr Jackson’) in March 2008 by way of a
share buyout
“+ » 33.. The GCompany-struggled financially following the purchase and tumover dropped in-2008 r.The- Company riases eet +e | recovered well in the latter part of 2009 with turnover increasing by over £300k for the year. Although tumover had increased, the Company encountered cash flow difficulttes as purchasing in bulk from | overseas, which required payment in advance, strained finances It was however expected that this would improve through early 2010 with increasing orders and a more extensive product line as Investments in products through 2009 were realised
Administrators' statement of proposals (2011-08-31) · Companies House register