Agdc Realisations Limited (01720832): administration
- Status
- Administration ended
- Administration began
- 2018-10-12
- Administrators
- Daniel Francis Butters, Daniel James Mark Smith
- Administrators' firm
- Deloitte
- Formerly
- American Golf Discount Centre Limited
- Incorporated
- 1983-05-05
- Location
- Birmingham
- Industry
- 47640 Retail sale of sports goods, fishing gear, camping goods, boats and bicycles
Why it went into administration
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
From the administrators' statement
« Asa result of continued trading the AGDC Group incurred an operating loss of 1m in FY18 and £1.5m for the 7 months to August 2018.
• The AGDC Group’s Management identified a significant funding requirement to support the implementation of a turnaround plan to address current trading under-performance, and to support the AGDC Group through the seasonal low winter period.
• Management put forward a request to Sun to address the funding requirement but were informed on 21 September 2018 that further funding would not be provided. RBS had previously confirmed it would not be in a position to provide additional funding.
Administrators' statement of proposals (2018-12-27) · Companies House register