Haddon & James Limited (02966302): administration
- Status
- Administration ended
- Administration began
- 2022-09-12
- Administrators
- Sarah Cook, Simon Peter Carvill-Biggs
- Administrators' firm
- FRP Advisory
- Incorporated
- 1994-09-08
- Location
- St Albans
- Industry
- 96090 Other service activities n.e.c.
Why it went into administration
- Creditor pressure / legal action
- COVID-19
- Sustained trading losses
From the administrators' statement
The Company was incorporated in September 1994 with the sole director being Mr Chris Small and operated as a commission-based auctioneer from premises in St Albans. The Company was holding auctions on behalf of the Police, Insolvency Practitioners, airports and house clearance agencies.
The Company operated with the same business model in its first two decades of trading with great success, even moving to bigger premises in the late 1990's. However, due to the financial crisis in 2008, the Company diversified its business model and began running auctions online, in order to attract a wider global market, and moved to its current trading premises in order to keep up with the increase in demand.
Following the increase in online retail platforms, and the decline of live auctions, the Company took the decision to solely operate as an online auctioneer, holding up to eight online auctions per week.
Administrators' statement of proposals (2022-11-02) · Companies House register