Logobuild Limited (02484418): administration
- Status
- In administration
- Administration began
- 2024-02-19
- Administrators
- Jonathan David Bass, Freddy Khalastchi
- Administrators' firm
- Menzies
- Incorporated
- 1990-03-23
- Location
- London
- Industry
- 31090 Manufacture of other furniture
Why it went into administration
- Cash flow / liquidity pressure
- HMRC / tax arrears
- Weak consumer demand
- Property / lease costs
- Sustained trading losses
From the administrators' statement
Creditors should note that, unless otherwise stated, this section of the proposals has been prepared based on information provided to me by the directors of the Company and not from my personal knowledge as Administrator.
The Company was incorporated in March 1990 by Richard Delane, one of the current directors and his wife Donna Delane, as Secretary of the Company, and operated under the trading name The Wood Works. Having previously worked in the family business designing and making lounge and dining room furniture, Richard had learnt the craft, from design to production and fitting, and decided to form his own business offering completely bespoke bedroom and other furniture, and the occasional kitchen. After its first five years of trading, with five employees, the Company was generating a profit of circa £15,000 on a turnover of circa £300,000.
Over time and as the business grew, Richard and Donna hired and trained a small team of designers, craftsmen and fitters, from a small 6,000sq ft factory in Hitchin, Hertfordshire where the business operated.
Administrators' statement of proposals (2024-04-24) · Companies House register