Avon Bakehouse Company Limited (01350115): administration
- Status
- Administration ended
- Administration began
- 2011-08-04
- Administrators
- Alison M Byrne
- Incorporated
- 1978-01-25
- Location
- Bristol
- Industry
- 1581
Why it went into administration
- Sustained trading losses
From the administrators' statement
The Company's joint directors first consulted my firm about the !ts financial position on 1° July 2011 because they had identified that the continued losses made by the wholesale side of the business could ultimately lead to the insolvency of the whole of the business Prior to that date neither I, nor my firm, Byrne Associates, has had any professional or other relationship with the Company However, the directors were referred to me by one of their brothers, to whom | had previously given personal insolvency advice
It is estimated that turnover was split 1/3 in respect of the retail side of the Company and 2/3 In respect of the wholesale trade The Company had also bullt up arrears in respect of PAYE and Ni contributions since April 2011 which were estimated in the balance sheet prepared by the Company accountant at 31 May 2011 to total £80,000 By the date of the administration this debt ts believed to have been in the region of £70,660 However, the Inland Revenue were putting the Company under pressure to reduce this liability by to making weekly contributions of £2,000 which the Company was unable to continue to honour
The directors were initially looking to re-finance the Company and were, at that time, in discussions with the bank However, they were concerned that, even with the introduction of further capital, the Company would be unable to survive the redundancy costs that would be incurred following any necessary restructure of the Company that would be required if it were to trade out of its financial difficulties
Administrators' statement of proposals (2011-08-23) · Companies House register