Hoddesdon Distribution Limited (03311138): administration
- Status
- In administration
- Administration began
- 2024-04-17
- Administrators
- Benjamin John Wiles, Philip Joseph Dakin
- Administrators' firm
- Kroll
- Incorporated
- 1997-01-31
- Location
- London
- Industry
- 49410 Freight transport by road
Why it went into administration
- Cash flow / liquidity pressure
- HMRC / tax arrears
- Property / lease costs
- Rising interest rates
- Competition / price pressure
- Rising costs / inflation
- Supply chain disruption
- Parent or group failure
From the administrators' statement
The Company was incorporated within the Aquila logistics operation following the purchase in February 2022,
The departure of key personnel following the purchase resulted in a loss of goodwill with customers, which coupled with high interest rates, rising prices of key costs, and technical issues associated with the implementation of a new technology system, resulted in the Company experiencing significant liquidity issues,
Kroll was subsequently instructed to assist with reviewing the Company’s short-term cash flow forecast and to advise on the options available to the Company and Cynergy.
Administrators' statement of proposals (2024-05-30) · Companies House register