Stochre Ltd (03158032): administration
- Status
- Administration ended
- Administration began
- 2012-07-09
- Formerly
- Rola-Trac Limited
- Incorporated
- 1996-02-13
- Location
- Norwich
- Industry
- 32990 Other manufacturing n.e.c.
Why it went into administration
- Funding withdrawn / unable to refinance
- Creditor pressure / legal action
From the administrators' statement
The Company was incorporated on 13 February 1996 and together with its wholly owned subsidiary Terra-XS Limited its trade is the manufacture, sale and rental of temporary floor coverings, barriers and other related products Turnover for the financial years ending 31 March 2011 and 31 March 2012 was £2 9 million and £2 0 million with losses of £415,000 and £351,000 respectively In the two months ending
31 May 2012 the Company made a further loss of £137,000
The Company Is based in Lingwood, Norwich but it trades worldwide through a network of overseas distributors and employed twelve staff The Company's products were hcenced to it under a formal Patent and Intellectual Property Licence (“IP Licence”) agreement from Fergus Ardern who 1s a director and shareholder The IP Licence contained clauses which enable the licensor to terminate the licence in the event of
Administrators' statement of proposals (2012-08-14) · Companies House register