Britannica Limited (03667429): administration
- Status
- Administration ended
- Administration began
- 2019-04-01
- Administrators
- Paul Mallatratt, Louise Freestone
- Administrators' firm
- Absolute Recovery
- Incorporated
- 1998-11-13
- Location
- Nottingham
- Industry
- 49410 Freight transport by road
Why it went into administration
- Funding withdrawn / unable to refinance
- Loss of a key customer, supplier or contract
- Sustained trading losses
From the administrators' statement
Brief background The Company was incorporated on 13 November 1998 and operated as a trucking company, predominantly to provide services to the construction industry.
In 2018, the Company's main customer significantly reduced the level of work provided.
Despite concerted attempts, the Company was unable to source sufficient alternative custom. The reduction in turnover, coupled with the Company's high level of ongoing finance costs, had a significant detrimental impact on the Company's financial performance and cash flow position.
Administrators' statement of proposals (2019-06-11) · Companies House register