# Carrington Carr Home Finance Limited (02105488)

> Why UK company 02105488 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/02105488

- **Status:** Administration ended
- **Administration began:** 2012-03-20
- **Administrators' firm:** Deloitte
- **Formerly:** AWD Home Finance Limited; Carrington Carr Limited; Carrington Carr (Holdings) Limited; Carrington Carr Limited; Carrington Carr Financial Services Limited
- **Incorporated:** 1987-03-03
- **Location:** Birmingham
- **Industry:** 6523

## Why it went into administration

- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- Sustained trading losses

## From the administrators' statement

The Company was acquired in December 2008 through a management buy-out, in a year that it recorded a pre-tax loss of £6 5m Since then, over the period 2009 to 2011, the Company recorded cumulative pre tax losses of c £11m

These significant losses were driven by two key factors, the austere conditions in the remortgage market that have remained since the Credit Crunch that started in August 2007 and the severe financial impact to the business from the retrospective legislation over Payment Protection Insurance (PPI)

The Credit Crunch significantly changed the shape of the remortgage market since 2007 Whilst the business went through a number of reorganisation and rationalisation programs since then, to try and counter the impact of this, ultimately these adverse market conditions have prevailed to date

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/02105488/filing-history/MzA1Njg3MzY2MWFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/02105488

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.