Currie & Brown Group Limited (03830593): administration
- Status
- Administration ended
- Administration began
- 2012-05-23
- Administrators
- Carlton Malcolm Siddle, Lee Antony Manning
- Administrators' firm
- Deloitte
- Formerly
- Currie & Brown Holdings Ltd
- Incorporated
- 1999-08-19
- Location
- London
- Industry
- 7415
Why it went into administration
- Creditor pressure / legal action
- Pension deficit
- Competition / price pressure
From the administrators' statement
Deloitte was originally engaged in October 2008 to advise on the restructuring of the Company's bank debt with the Secured Creditor
Deloitte was subsequently re-engaged on 7 Apri! 2011 to provide support and advice on dealing with the key factors adversely impacting on the Company’s business, namely the potential £28 9m pension fund deficit and the overdrawn position with the Secured Creditor
The initial strategy focused on negotiations with tPR and PPF to transfer the contingent pension fund liability out of the business Despite lengthy negotiations no accommodation could be reached with the tPR and the PPF to enable a RAA to be entered into that was acceptable
Administrators' statement of proposals (2012-07-24) · Companies House register