Nichol & Laidlow Limited (02920119): administration
- Status
- Administration ended
- Administration began
- 2013-01-07
- Administrators
- Anne Clare O'Keefe, Graham Michael Wild, Simon Wilson
- Administrators' firm
- AlixPartners
- Incorporated
- 1994-04-18
- Location
- Manchester
- Industry
- 46380 Wholesale of other food, including fish, crustaceans and molluscs
Why it went into administration
- Creditor pressure / legal action
- Funding withdrawn / unable to refinance
- HMRC / tax arrears
- Over-expansion / investment not recovered
From the administrators' statement
The Company was incorporated on 18 April 1994 and traded as a manufacturer of bread, pastries and cakes for a diverse range of customers.
The Company invested heavily in development projects during 2012; however, this investment did not translate into an increase 1n orders nor an expansion of the customer base. Further, following this investment the Company had a significant level of working capital invested in excess stock
In conjunction with the above, the Company experienced a reduction in existing customer orders together with increasing supplier pressure, To ensure continuation of trade, the Company entered inte repayment plans with key suppliers
Administrators' statement of proposals (2013-02-07) · Companies House register