Cool Movers Limited (03754679): administration
- Status
- In administration
- Administration began
- 2004-03-08
- Administrators
- Andrew Fender
- Administrators' firm
- Sanderlings Business Services
- Incorporated
- 1999-04-20
- Location
- Solihull
- Industry
- 6024
Why it went into administration
- Rising costs / inflation
- Creditor pressure / legal action
From the administrators' statement
The company is a specialist haulier in chilled transport, which has been in business since its incorporation on 20 April 1999. It originally carried out business from the premises of a customer, but since May 2000 has operated from its current premises at Unit 16, Audley Avenue, Enterprise Park, Newport, TF10 7DW, providing a service to a number of the larger supermarket companies and suppliers of those supermarkets. In September 2000 a five year lease was taken on these premises.
The company’s start-up costs were substantial as it was required to commit to the purchase of specialist, professional refrigerated heavy goods vehicles. Unfortunately, initial trading was insufficiently profitable to allow the company to maintain finance payments. Similar problems have been experienced with specialist fixed refrigeration units installed in the company’s leased premises.
The company went into 24 hour, 365 days a year business in order to provide its customers with the service they required. However, this was before any extra revenue from its increased business could be collected. At the same time, supermarkets were putting pressure on suppliers to reduce prices, whilst increases in fuel duty, vehicle costs and wages were leading to an increase in costs for the transport industry generally. The result has been that the company has been unable to discharge its original start-up costs.
Administrators' statement of proposals (2004-06-08) · Companies House register