Severnside Continental Freighters (U.K) Limited (01383302): administration
- Status
- Administration ended
- Administration began
- 2013-01-09
- Administrators
- Simon Robert Haskew, Neil Frank Vinnicombe
- Administrators' firm
- Begbies Traynor
- Incorporated
- 1978-08-10
- Location
- Bristol
- Industry
- 52103 Operation of warehousing and storage facilities for land transport activities
From the administrators' statement
The Company provided haulage and warehousing services from its leasehold premises at Polo Grounds industnal Estate, New Inn , Pontypool, NP4 OTW, employing 9 people The business was onginally established in 1978 and most recently the 31 March 2012 abbreviated accounts showed a £67,236 profit
Latterly the Company began to expenence financial difficuites and the directors took professional advice from a firm of insolvency practitoners in December 2012 That advice concluded that the Company should be placed into Administration under Part 1 of the Insolvency Act 1986 The directors concluded, following the
3advice they had taken, that such a strategy would be Itkely to maximise the realisable value of the Company's assets over the altemative of an immediate liquidation of the Company's assets (without the Company first being placed into Administration) They therefore proceeded to file a Notice of Intention to appoint Administrators, Form 2 8B, in the High Court on 28 December 2012 and thereafter in early January 2013 served a copy of the Notice on the Company’s secured creditors, Lloyds TSB Commercial Finance Ltd (‘LCF”) and Barclays Bank Plc (“Barclays”), each being the holder of a qualifying floating charge over the Company's assets and therefore entitled to such Notice
Administrators' statement of proposals (2013-03-07) · Companies House register