Chantry Television Limited (01879553): administration
- Status
- Administration ended
- Administration began
- 2014-07-14
- Administrators' firm
- BDO
- Formerly
- Extramoor Limited
- Incorporated
- 1985-01-22
- Location
- Cambridge
- Industry
- 47540 Retail sale of electrical household appliances in specialised stores
Why it went into administration
- Weak consumer demand
- Competition / price pressure
- Rising costs / inflation
- Creditor pressure / legal action
From the administrators' statement
The company was incorporated on 22 January 1985 The company sold and rented electrical household appliances to both the private and corporate sector through three sites based in Gillingham, Westbury and Trowbridge and for many years was profitable However, from 2009 the operating profit started to reduce compared to the previous successful years, and in 2010 the operating profit significantly reduced by some 37% due to the increase in costs of sales and distribution The directors in early 2011 after reviewing the management accounts made the decision to obtain financial advice and contacted BDO LLP The conclusion was that the company could no longer meet its liabilities as they became due However, the directors believed they could continue the business and turn it around so they agreed to place the company in to a creditors’ voluntary arrangement (“CVA”) On 21 April 2011 the CVA was approved by creditors and Simon Girling of BDO LLP was appointed supervisor After the approval of the CVA the company suffered further decreases in retail trading and again found itself under pressure from creditors in particular HM Revenue & Customs who threatened enforcement action During the CVA the …
Administrators' statement of proposals (2014-09-11) · Companies House register