BTR (UK) Limited (03932081): administration
- Status
- Administration ended
- Administration began
- 2011-12-16
- Administrators
- William Clive Swindell
- Administrators' firm
- RSM
- Formerly
- Time To Lease Ltd; General Equipment Finance Ltd; Time To Lease Limited
- Incorporated
- 2000-02-23
- Location
- Bristol
- Industry
- 7260
Why it went into administration
- Creditor pressure / legal action
- Sustained trading losses
- Cash flow / liquidity pressure
From the administrators' statement
The Company traded as a secure data remover and recycler of electronic equipment
In 2004, the Company purchased a floss making business from Belmont Technology Remarketing Ltd and with an injection of new working capital was able to trade for several years. However, continuing trading losses were such that in 2011 the Company began to suffer from cash flow problems
The Director sought the advice of the Company's accountants and then from WC Swindell, Yorkshire House, 7 South Lane, Holmfirth, Huddersfield HD9 1HN He advised that the Company was insolvent and should proceed into Creditors Voluntary Liquidation The Director therefore took steps to call meetings of the Members and Creditors of the Company pursuant to Section 98 of the Insolvency Act 1986 and these took place on 30th November 2011 However, at the meetings of Members, a valid resolution placing the Company into Liquidation could not be passed and the subsequent meeting of Creditors was therefore adjourned
Administrators' statement of proposals (2012-02-13) · Companies House register