# Kenilworth Vehicle Rental Limited (01399436)

> Why UK company 01399436 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/01399436

- **Status:** Administration ended
- **Administration began:** 2011-07-08
- **Administrators:** Matthew Douglas Hardy, Martin T Coyne
- **Administrators' firm:** Quantuma
- **Incorporated:** 1978-11-13
- **Location:** Birmingham
- **Industry:** 5010

## Why it went into administration

- HMRC / tax arrears
- Cash flow / liquidity pressure
- Loss of a key customer, supplier or contract

## From the administrators' statement

1 was asked by the Company's accountants to meet with Mr Gregory, Director of the Company, on 15 September 2010 At this meeting the position of the Company was discussed and in particular the position in respect of the major creditor, HM Revenue and Customs ("HMRC’) It was clear that the Company had been experiencing financial problems from the onset of the recession, like most businesses In particular the Company's daily hire business had reduced as this had become a particular area of cost-cutting for customers in the recession

it was evident that the Company was experiencing cash flow pressure which was reflected in a rellance on the overdraft facility provided by its bank and an accumulation of debt due to HMRC

On behalf of the Company | wrote to HMRC to ask for time to prepare financial information in order to institute a payment plan in respect of the mounting liabilities Following a further discussion with the Director it became clear that he had received interest from an independent third party with a view to the sale of the business {t was the Director's opinion that this interest should be pursued

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/01399436/filing-history/MzA0MzE3NDcwMWFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/01399436

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