Desiman (New Homes) Limited (03906347): administration
- Status
- Administration ended
- Administration began
- 2013-05-15
- Administrators
- Philip Stephen Bowers, Matthew James Cowlishaw
- Administrators' firm
- Deloitte
- Incorporated
- 2000-01-13
- Location
- Southend on Sea
- Industry
- 43390 Other building completion and finishing
Why it went into administration
- Funding withdrawn / unable to refinance
From the administrators' statement
The Bank had provided various facilities to Desiman Limited which at the date of the appointment of Joint Administrative Receivers to Desiman Limited totalled £36 9 million in drawn facilities, which had been cross guaranteed by the Compames
The Group's banking facilities expired on 23 March 2013 following which the Group sought a refinancing with a third party lender !n order to facilitate such a refinancing, the Bank offered a short term extension of the facilities, although the terms of this extension were never agreed In light of the facilities being in defauit, the Bank took steps to enforce tts security by way of appointing an Administrative Receiver over Desiman Limited and Administrators over the Companies
Administrators' statement of proposals (2013-07-10) · Companies House register