Big Grey Door Limited (02183415): administration
- Status
- Administration ended
- Administration began
- 2013-02-25
- Formerly
- F.K. Howard Limited; Fletcher King Howard Limited; Ernest Howard Limited; Localselect Limited
- Incorporated
- 1987-10-26
- Location
- Northampton
- Industry
- 70229 Management consultancy activities other than financial management
Why it went into administration
- Cash flow / liquidity pressure
- Property / lease costs
From the administrators' statement
The company had been suffering cash flow difficulties for some time and had been taking independent and professional advice on the most appropriate way forward
To address these cash flow issues various changes to the Company's operation were done, including some redundancies and negotiating with the landlord with regards to the level of property rent These measures also resulted in the company being able to reduce their required office space However, the landlord recently informed the company the rent reduction agreement had expired and that payments were required to increase to their former level The company were also informed an assessment for dilapidations had been made and this lability was some £150,000
Having reviewed trade and cash projections the directors recognised that despite ail efforts to change circumstances future trading under the current guise was not viable Accordingly, the business and assets were sold to a new company and the Company ceased trading on 22 February 2013
Administrators' statement of proposals (2013-03-06) · Companies House register