Yate Trading Centre Limited (02214657): administration
- Status
- Administration ended
- Administration began
- 2011-04-04
- Administrators
- Neil Frank Vinnicombe, Simon Robert Haskew
- Administrators' firm
- Begbies Traynor
- Incorporated
- 1988-01-27
- Location
- Bristol
- Industry
- 5113
Why it went into administration
- Creditor pressure / legal action
- Cash flow / liquidity pressure
From the administrators' statement
Yate Trading Centre Limited (the Company”) was incorporated on 27 January 1988 and commenced trade as a retailer of bathroom suites from leasehold premises in Yate In December 1993 the Company expanded by acquiring additional leasehold premises in Weston-Super-Mare In 2001 the Company vacated the leasehold premises in Yate and purchased a freehold property at Stover Road, Yate which the Company utilised as showrooms and offices
The Company traded successfully for a number of years However sales dunng 2010 were down on the previous year and the Company's cash flow was placed under strain Whilst the Company had sufficient reserves to enable trade to continue, the directors decided that in order to secure the future of the Company, the freehold property at Yate should be sold and the business relocated to cheaper leasehold premises in order to reduce overheads and inject further working capital
In June 2010, property agents GVA were instructed to market and sell the freehold property Offers were received from interested parties but not at a level suitable to the directors
Administrators' statement of proposals (2011-06-06) · Companies House register