Race Dynamics Limited (03464522): administration
- Status
- Administration ended
- Administration began
- 2011-11-01
- Formerly
- Speed 6616 Limited
- Incorporated
- 1997-11-12
- Location
- Fareham
- Industry
- 5030
Why it went into administration
- Weak consumer demand
- Sustained trading losses
From the administrators' statement
The company supplied car parts and accessories to the public on line and from leasehold shop premises in Andover Shopping Centre employing 3 staff
The company commenced trading in November 1997 and Nicholas Maher is the sole director and shareholder
The company was funded by an overdraft facility from HSBC Bank Ple and whilst the bank has no security over the assets of the company the director, Mr Maher, has personally guaranteed this debt
Administrators' statement of proposals (2011-11-17) · Companies House register