Cobley Transport (Reading) Limited (03988604): administration
- Status
- Administration ended
- Administration began
- 2013-08-07
- Administrators' firm
- F A Simms & Partners
- Incorporated
- 2000-05-09
- Location
- Lutterworth
- Industry
- 49410 Freight transport by road
Why it went into administration
- Creditor pressure / legal action
- Supply chain disruption
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
From the administrators' statement
FA Simms & Partners Limited were initially approached by the director, Ann Cobley and Company accountant Lyn Simpson (Simpson & Co) on the 10 July 2013 A meeting was held with the above, and director Peter Cobley, on the same day
The directors advised that the Company had begun to make weekly losses and the estimated year to date loss was at £75,000
The director advised that losses were associated to one of their large contracts which had resulted in losses with approximately £500,000 over the previous two years This contract originally cost the Company the sum of £50,000 to purchase
Administrators' statement of proposals (2013-09-17) · Companies House register