Communications Trade Supplies Manufacturing Limited (02881956): administration
- Status
- Administration ended
- Administration began
- 2011-06-28
- Administrators' firm
- KPMG
- Incorporated
- 1993-12-17
- Location
- Peterborough
- Industry
- 3220
Why it went into administration
- Competition / price pressure
- Rising costs / inflation
- Cash flow / liquidity pressure
- Sustained trading losses
- Property / lease costs
From the administrators' statement
The Company was incorporated in December 1993 to trade as a cable manufacturer and supplier The business was traded from two premises in Peterborough, Cambridgeshire One was a warehouse facility in Fengate with an annual rent payable of £50,000 to December 2010, at which point it reduced to £30,000, the second was a factory in Bretton with annual rent of £62,000 Both premises were leasehold in nature, although the owner of the warehouse 1s associated to one of the directors, Mr Head The Company manufactured and sold cables for the voice, data and security industries
Until August 2009, Mr Head had been the sole director and the 100% shareholder of the Company, although since 2005 that shareholding had been via a parent company, Communications Holdings Limited (“CHL”), of which Mr Head was the sole director and sole shareholder In August 2009, after several years of profitable trading, Mr Head sold 75% of the shares in CHL, on partly deferred consideration terms, to Dos Caminos Limited (“DCL”),,a company owned by Mr Leitch, Mr Rothwell and Mr Sharpe and some of their associates, including Mr David McArthy All four became additional directors of the Company The remaiming 25% of the shares in CHL remained with Mr Head
On 1 November 2010, Mr Head bought Mr McArthy’s 36% shareholding in DCL and replaced him as a director whilst Mr McArthy resigned his directorships in DCL, CHL and the Company
Administrators' statement of proposals (2011-08-24) · Companies House register