Georgian Hire Limited (03153324): administration
- Status
- Administration ended
- Administration began
- 2011-06-27
- Administrators
- Timothy Colin Hamilton Ball, Roderick John Weston
- Administrators' firm
- Mazars
- Incorporated
- 1996-01-31
- Location
- Bristol
- Industry
- 7134
Why it went into administration
- Sustained trading losses
- Rising costs / inflation
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- Creditor pressure / legal action
- Management failings / irregularities
- Competition / price pressure
From the administrators' statement
The Company was incorporated on 31 January 1996 and traded predominantly as a portable toilet hirer, operating throughout the South of England
The company was jointly owned upon incorporation by Mr Jones and Mr Newman, until 6 April 2010 Mr Newman suffered from ill health and resigned as a director and disposed of his | £1 ordinary share at around this time The company’s annual return details that the company purchased this share, but I have been advised by Mr Jones that this was an error and it was in fact purchased by him.
As a result of the general economic conditions, in the year ended 31 January 2009, the company made a loss of £138,899 on a turnover of approximately £19 million The Company’s net assets were approximately £256,100 at this time.
Administrators' statement of proposals (2011-08-09) · Companies House register