Independent Coach Travel (Wholesaling) Limited (01867070): administration
- Status
- Administration ended
- Administration began
- 2020-07-20
- Administrators' firm
- Kroll
- Incorporated
- 1984-11-28
- Location
- London
- Industry
- 96090 Other service activities n.e.c.
Why it went into administration
- COVID-19
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- Parent or group failure
From the administrators' statement
As a direct result of the COVID-19 pandemic, the Group had ceased cruising ‘operations and was ’ suffering cashflow difficulties.
Prior to the Appointment | Date, Duff & Phelps. were engaged by the UK Group to assist with refinancing. .
On 20 July 2020, despite the Directors’ best efforts over the receding 1 months, the board concluded that they were unable to secure a refinance arrangement. As a result, the board made the decision to place the Company and the UK Group into Administration.
Administrators' statement of proposals (2020-09-28) · Companies House register