Black Horse Contractors Limited (02465167): administration
- Status
- Administration ended
- Administration began
- 2011-12-22
- Administrators
- Simon Robert Haskew, Neil Frank Vinnicombe
- Administrators' firm
- Begbies Traynor
- Incorporated
- 1990-01-30
- Location
- Bristol
- Industry
- 4521
Why it went into administration
- Cash flow / liquidity pressure
From the administrators' statement
The Company was incorporated on 30 January 1990 with the principal business being to act as builders and contractors and other, related, activities By late 2011, the economic downturn meant that the Company had to approach its bank, National Westminster Bank pic (“the Bank”), and request an extension to its overdraft facility The Bank, having considered tts position, said that it would be withdrawing the overdraft in November 2011
The directors sought to arrange alternative funding for the Company from the banking and private sectors for some time after that, to no avail
At a meeting of the Company's board of directors held on 16 December 2011, the directors, having previously concluded that the Company was or was likely to become unable to pay its debts as they fell due and having taken professional advice, resolved to place the Company into admmmistration On the same day, the directors filed at the Bristol District Registry of the High Court's Chancery Division a notice of intention (in form 2 8B) (“NO!”) to appoint Simon Haskew and Neil Vinnicombe of Begbies Traynor (Central) LLP as joint administrators of the Company On 16 December 2011, the sealed NO! was sent to the Bank (who had the benefit of a debenture over the Company's assets and undertaking) On 22 December 2011, the Bank, as the only qualifying floating chargeholder, consented to the appointment of the proposed admmistrators On the same day (22 December 2011), at 13 43, a notice of appointment (“NOA’) was filed at Court
Administrators' statement of proposals (2012-02-20) · Companies House register