# Birakos Enterprises Limited (03700730)

> Why UK company 03700730 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/03700730

- **Status:** Administration ended
- **Administration began:** 2018-05-17
- **Administrators:** Simon Edward Jex Girling, Martha Hanora Thompson
- **Administrators' firm:** BDO
- **Incorporated:** 1999-01-25
- **Location:** Counterslip
- **Industry:** 7011

## Why it went into administration

- Creditor pressure / legal action

## From the administrators' statement

BEL was incorporated on 25 January 1999 and traded as a property developer in the Bristol area, recording a peak turnover of £13.6m in the year to March 2008. However, BEL was adversely affected by the recessionary economic climate during the 18 months leading up to the Administration and the consequent fall in land and property values.

A winding up petition from Lloyds TSB Commercial Finance Limited was advertised on 8 October 2009. Specialist insolvency advice was sought from UHY Hacker Young, and the directors started to prepare proposals for a Company Voluntary Arrangement (“CVA”) to be put to creditors. However, the CVA proposals had not been completed by 11 November 2009, the date of the initial winding up hearing.

At that hearing, a decision on the winding up petition was adjourned for one week to enable an opportunity for Barclays Bank Plc (“the Bank”), the first Qualifying Floating Chargeholder (“QFCH”), to appoint Administrators.

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/03700730/filing-history/MzAwNjY1NTg5M2FkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/03700730

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