Ward Lovett Advertising and PR Limited (03141761): administration
- Status
- Administration ended
- Administration began
- 2012-12-27
- Formerly
- Ward Wilder Limited
- Incorporated
- 1995-12-28
- Location
- London
- Industry
- 73110 Advertising agencies
Why it went into administration
- Creditor pressure / legal action
- Cash flow / liquidity pressure
- Management failings / irregularities
- Competition / price pressure
- HMRC / tax arrears
From the administrators' statement
|, Craig Povey, first met with Mr Roberts and a director of the Company, Kerst Ward, on 4 October 2012
At this meeting, | was informed that the Company was tn financial difficulty as tt had been subject to a fraud, allegedly perpetrated by the Company's former book-keeper Whilst this fraud was uncovered some two and a half years ago the cash flow effects were still being felt as the Company was left with a liability to HM Revenue & Customs (“HMRC”) in the region of £220,000
As a result of the alleged fraud the Company has an ongoing legal action against the former accountants However, | was advised that the outcome of the Company's claim is uncertain and the costs of pursing the action along with the lengthy legal : process were causing the Company considerable cash flow difficulties \
Administrators' statement of proposals (2013-02-22) · Companies House register