Sweetland Limited (03354343): administration
- Status
- Administration ended
- Administration began
- 2020-09-28
- Incorporated
- 1997-04-17
- Location
- Harrow
- Industry
- 10710 Manufacture of bread; manufacture of fresh pastry goods and cakes
Why it went into administration
- COVID-19
- Cash flow / liquidity pressure
- Creditor pressure / legal action
- Sustained trading losses
- Brexit
From the administrators' statement
Creditors should note that, unless otherwise stated, this section of my proposals has been prepared based on information provided to me by the directors of the Company and not from my personal knowledge as Joint Administrator.
The Company was incorporated by Houssam Haddad in April 1997 and specialised in the production of Mediterranean sweets, and more specifically Lebanese sweets. Mr Haddad came from a well-known Lebanese family within the sector, that had for many generations been creating highly regarded sweets. Two years into trading Houssam was joined by his brothers Akram and Wassim Haddad.
The Company was initially funded by Houssam Haddad personally via director loans, and later his fellow shareholders. Further funding was subsequently obtained via a number of bank loans, largely personally guaranteed by Houssam Haddad.
Administrators' statement of proposals (2021-03-10) · Companies House register