Rapid Car Parts Ltd (02700287): administration
- Status
- Administration ended
- Administration began
- 2011-12-06
- Administrators
- Christopher William Pillar, David Robert Baxendale, Robert Hunt
- Administrators' firm
- PwC
- Formerly
- Rapid Exhausts Limited
- Incorporated
- 1992-03-25
- Location
- Leeds
- Industry
- 5190
Why it went into administration
- Sustained trading losses
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- Property / lease costs
- Competition / price pressure
From the administrators' statement
I was contacted by the directors of the Company on 28 November 2011 and attended a number of meetings with both the directors and representatives of Friend LLP. Friend LLP were the Company's accountants and carried out a number of management functions on tts behalf.
The Company occupied eight leasehold sites in East Angha and the South East There was also a head ottice function based in Birmingham. The Company employed a total of 82 staff
The Company operated tn the highly competitive motor factor industry and turnover reduced each month dunng 2011.
Administrators' statement of proposals (2012-02-02) · Companies House register