# Yacht KIT Limited (03424786)

> Why UK company 03424786 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/03424786

- **Status:** Administration ended
- **Administration began:** 2012-01-25
- **Administrators' firm:** Asset Recovery and Insolvency
- **Incorporated:** 1997-08-26
- **Location:** Southampton
- **Industry:** 5248

## Why it went into administration

- Cash flow / liquidity pressure
- Funding withdrawn / unable to refinance
- Property / lease costs
- Sustained trading losses
- Competition / price pressure

## From the administrators' statement

Yacht Kit Ltd (“the company”) was incorporated on 26 August 1997

The company was incorporated by the original Director and shareholder to acquire an existing business which had traded for several years as a chandlery in Shamrock Quay, Southampton It 1s understood that the sale consideration was £95,000 (to include stock and goodwill)

In 2003, the Director and shareholder of the company entered into an agreement to sell his shares to Mr M and Mrs J Edgerton and Mr DJ Knowles, (Mrs Edgerton’s brother)

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/03424786/filing-history/MzA1NDAxODA2NWFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/03424786

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.