# Easter Holdings Limited (02615073)

> Why UK company 02615073 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/02615073

- **Status:** Administration ended
- **Administration began:** 2012-03-14
- **Administrators:** Robert Andrew Croxen, Colin Michael Trevethyn Haig
- **Administrators' firm:** KPMG
- **Formerly:** Easter Property Management Limited; The Easter Management Group Limited
- **Incorporated:** 1991-05-28
- **Location:** London
- **Industry:** 7011

## Why it went into administration

- Funding withdrawn / unable to refinance

## From the administrators' statement

The Company was incorporated on 28 May 1991 as a holding company to hold shares in property companies within the Easter Group

The Company was funded by a term loan from the Bank The Bank has cross guaranteed security against this borrowing on 15 properties and 3 development land assets within the Easter Group The Easter Group experienced an increased number of letting voids in these properties in 2011, which led to a covenant breach in December 2011

The Directors presented a proposal to the Bank in February 2012, which involved a third party purchasing a share of the development activities as well as all employees and head office functions of the Easter Group However, funding was not 1n place to proceed with this proposal, therefore the Bank withdrew support Following this the Directors appointed Robert Andrew Croxen and David John Crawshaw of KPMG as Administrators of the Company and a number of other compames within the Easter Group on 14 March 2012

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/02615073/filing-history/MzA1NzMzNjY3NGFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/02615073

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.