Asco Educational Supplies Limited (02560697): administration
- Status
- Administration ended
- Administration began
- 2016-07-04
- Administrators
- Christopher Brooksbank
- Administrators' firm
- Begbies Traynor
- Incorporated
- 1990-11-21
- Location
- Cleckheaton
- Industry
- 47990 Other retail sale not in stores, stalls or markets
From the administrators' statement
The Admmistrator inttially met with Mr Thomas Marshall on 7 June 2016 at the instigation of the Company’s accountant, KJA Group Limited (‘KJA’} to discuss the different options available to the Company in light of the financial difficulties it faced Mr Marshall is the sole director and majonty shareholder of the Company He also holds a debenture creating fixed and floating charges over the Company's property and undertakings
Following that meeting the Administrator was advised that Mr Marshall proceeded to advertise the business for sale and instructed KJA to prepare cash flows
The Administrator was subsequently contacted by Mr Marshall to inform him that he had been unable to sell the business and the Company was not trading at a profit Upon reviewing the cash flows the Administrator advised that a Company Voluntary Arrangement was not a viable option for the Company After considering all of the relevant information regarding the Company's financial position and reviewing all of the
Administrators' statement of proposals (2016-09-09) · Companies House register