YTM Group Limited (01605310): administration
- Status
- Administration ended
- Administration began
- 2019-02-14
- Administrators' firm
- Begbies Traynor
- Formerly
- Yorkshire Timber Manufacturing Limited; Inline Interiors Limited
- Incorporated
- 1981-12-21
- Location
- Leeds
- Industry
- 31090 Manufacture of other furniture
Why it went into administration
- Loss of a key customer, supplier or contract
- Funding withdrawn / unable to refinance
- Sustained trading losses
From the administrators' statement
Background and Reasons for Financial Position
The Company was incorporated in 1981 and traded as a bespoke furniture manufacturer, operating from two sites in West Yorkshire.
The Company initially made contact with Simon Robinson of Rushtons Insolvency Limited (“Rushtons”) after a difficult trading year in 2018, ending with the loss of a major contract in December of that year. Rushtons subsequently contacted Begbies Traynor Group (“BTG”) on 4 February 2019 to assist in providing advice to the Company. At this time, a review of the Company’s financial position highlighted that the Company was cash flow insolvent and, if subjected to scrutiny, balance sheet insolvent as well. Also, with the recent loss of a farge contract, it was apparent that the business would find it difficult to trade profitably going forward.
Administrators' statement of proposals (2019-04-12) · Companies House register