Raymond Bushell (Lettings) Limited (03070899): administration
- Status
- In administration
- Administration began
- 2008-10-15
- Administrators
- Stephen Blandford Ryman, Robert Derek Smailes
- Incorporated
- 1995-06-21
- Location
- London
- Industry
- 7032
Why it went into administration
- Parent or group failure
From the administrators' statement
The Company was incorporated on 20 October 1995 as a group of London based estate agents letting properties alongside Bushell Associates Limited and Raymond Bushell Limited. The Company was purchased from Ebury & Evesham Securities Limited (in receivership). At that time the business comprised of seven offices based in West and South London. The Company was owned by Bushell Associates Limited.
The groups turnover in the year to 31 December 2006 was in total £2,775,000 and this eventually grew to £6,500,000 in the year to 31 March 2007, at this time the group comprised of twelve offices with nine sales outlets and six lettings outlets.
There were several approaches from third parties to acquire the group of Companies in 2002 and 2004 along with an unsuccessful management buyout which commenced with due diligence being carried out by Hacker Young Chartered Accountants in late 2002, this failed in August 2003.
Administrators' statement of proposals (2008-12-11) · Companies House register