R.A. Smart (Holdings) Limited (01678885): administration
- Status
- In administration
- Administration began
- 2026-04-22
- Administrators
- Richard Cole, Steve Kenny
- Administrators' firm
- KBL Advisory
- Incorporated
- 1982-11-17
- Location
- Sale
- Industry
- 13300 Finishing of textiles
From the administrators' statement
Given the financial position of the Company, the Directors contacted KBL to discuss the financial circumstances of the Company. Richard Cole attended the trading premises on Monday, 23 March 2026 to meet with the Directors to discuss the financial circumstances of the Company and discuss the available options. Richard Cole and Steve Kenny were formally engaged by the Directors on 7 April 2026 to provide professional services to the Board of Directors.
During the initial meeting on 23 March 2026 the various statutory and non-statutory options available to the Company were discussed. The Board determined that it was in the interests creditors that the Company to be placed into Administration.
At that initial meeting, Richard Cole, the proposed Administrator advised the Directors of their fiduciary duties and the requirement to prioritise the interests of creditors and to safeguard the company’s assets for their benefit. During the initial discussions with the Directors, they indicated a strong preference for the preservation of the business and the retention of employment. Accordingly, it was determined that the most appropriate strategy was to undertake a marketing process of the business and assets with a view to facilitating a potential pre-packaged administration sale.
Administrators' statement of proposals (2026-08-07) · Companies House register