Squire & Furneaux Limited (01739371): administration
- Status
- Administration ended
- Administration began
- 2012-01-04
- Formerly
- Timestate Limited
- Incorporated
- 1983-07-14
- Location
- Manchester
- Industry
- 7415
Why it went into administration
- Weak consumer demand
- Funding withdrawn / unable to refinance
- Bad debts / customer insolvency
- Property / lease costs
From the administrators' statement
2.1 RGF 1s a wholly owned subsidiary of S&F. RGF and S&F formed part of the wider Squire Furneaux group of companies.
2.2 RGF operated from two garages at Dunstable and Welwyn, as Saab dealerships (together the Dealerships) RGF facilitated the sale of new and used vehicles, vehicle repairs and the supply of parts to vehicle owners and trade customers
2.3 The Joint Administrators understand that following a restructuring within the S&F group of compames last year, which was undertaken with a view to concluding a potential sale of certain parts of the group, S&F 1s now the sole shareholder of RGF, owning 100% of its share capital. Historically, S&F had also owned the share capital of Squire Furneaux Cobham Limited and Squire Furneaux Maidenhead Limited.
Administrators' statement of proposals (2012-02-22) · Companies House register