Drive Force (UK) Ltd (03861904): administration
- Status
- Administration ended
- Administration began
- 2020-06-04
- Administrators' firm
- Begbies Traynor
- Formerly
- Graphtop Limited
- Incorporated
- 1999-10-20
- Location
- Bristol
- Industry
- 49410 Freight transport by road
Why it went into administration
- Cash flow / liquidity pressure
From the administrators' statement
The Company was incorporated .on 20 October 1999 and specialised in bulk car, LCV distribution and storage across the UK and Europe. !t provided automotive logistics solutions to customers across the. automotive sector, including manufacturer operations, port deliveries, auction collection, delivery movements and rental sector operators. They also provided storage and parking solutions on both long and short term contracts. ;
‘The Company ran a fleet of premium quality “eleven plus” car transporters, which was maintained by Driveforce Engineering Limited and operated from a large leasehold unit in Avonmouth, Bristol. We were first involved with the Company in August 2018 when the Company was experiencing cash flow difficulties. This was stabilised at the time and the Company entered into discussions with an interested party in January 2019 who were going to buy the.business. Whilst this was ultimately unsuccessful, the Director's spent a considerable amount of time and effort in getting the businesses aligned over the following year which resulted in further, losses. However, the signing of new contracts and a reduction i in the cost base resulted j in profitable months i in early 2020.
Unfortunately, the business (much like the rest of the economy) stopped trading on 23 March 2020 due to
Administrators' statement of proposals (2020-08-04) · Companies House register