# D3 Direct Limited (03614680)

> Why UK company 03614680 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/03614680

- **Status:** Administration ended
- **Administration began:** 2012-08-13
- **Administrators:** Ranjit Bajjon, Malcolm Peter Fillmore
- **Administrators' firm:** Kroll
- **Formerly:** Frazer International Services Limited
- **Incorporated:** 1998-08-12
- **Location:** Crawley
- **Industry:** 6340

## Why it went into administration

- Cash flow / liquidity pressure
- Creditor pressure / legal action
- Loss of a key customer, supplier or contract
- Bad debts / customer insolvency
- Sustained trading losses

## From the administrators' statement

The Company was formed in August 1998 (initially as Frazer International Services Limited) by David Russell The Company operates a distribution, storage and packing logistics business which concentrated on fulfilment of internet purchases and, until May 2012, operated from a 40,000 sq ft leasehold warehouse tn Crowthorne The Company is owned by the current directors, David Grad (70%) and David Russell (25%), alongside Sarah Grad (5%)

From a trading perspective, the business suffered a significant loss over the previous 12-18 months in relation to contracts with Boulevard Entertainment Limited & Direct Offers Limited which equated to 40% of the Company's yearly turnover Boulevard had purchased a substantial quantity of exWoolworth DVDs for resale and the Company expanded its facility and activities to handle this work However, disputes and ultimately, credit notes were agreed totalling approximately £146,000 (excluding VAT) In addition, the Company suffered further bad debts totalling approximately £22,000 and a loss of six key clients, causing the Company to have incurred high levels of bad debt and cash flow difficulties As a consequence, the Company suffered significant trading losses and a considerable drop in turnover of 75% between January and May 2012

The Company's lease at Crowthorne came to an end in May 2012 with no prospect of it being renewed or extended, since the landlord (Legal & Genera!) indicated their intention to develop the site Thus the Company was obliged to relocate and entered into negotiations with 808 X-Ray Logistics Limited, a Heathrow-based company which had spare capacity to effect a merger of the two businesses

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/03614680/filing-history/MzA2MzQzOTUwMmFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/03614680

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