Chariots of Essex Limited (03107570): administration
- Status
- Administration ended
- Administration began
- 2015-03-11
- Administrators
- Stephen John Evans, William Antony Batty
- Administrators' firm
- Antony Batty
- Incorporated
- 1995-09-28
- Location
- Brentwood
- Industry
- 45200 Maintenance and repair of motor vehicles
From the administrators' statement
Mr Flavin was concerned that, although he had effectively retired from the business the company's bankers Barclays Bank Plc still held his personat guarantee which he had initially given to support the overdraft Facility. The bank had also been granted a debenture by the company shortly after trading initially commenced in 1995. He was also concerned that he was sull owed monies which he had previously introduced into the company, of approximately £70,000.
Negotiations were held between Mr Flavin and Mr Stapley with a view to his purchasing Mr Flavin’s shares, discharging his outstanding loan and providing an alternate guarantee to the bank Unfortunately these negotiations brake down and no agreement was ever reached. Furthermore, Mr & Mrs Flavin were becoming Increasingly concerned as shareholders, with the way the company was being run
In late February 2015 they were advised by Mr Stapley that he had decided to cause the company to cease trading and had transferred the majority of the assets to another company under his direct contro! in lieu of monies apparently owed to him and also resigned as a director.
Administrators' statement of proposals (2015-05-19) · Companies House register