Apollo Design & Build Limited (04010593): administration
- Status
- Administration ended
- Administration began
- 2011-06-02
- Administrators
- Anthony David Kent
- Administrators' firm
- Maidment Judd Insolvency
- Incorporated
- 2000-06-08
- Location
- Harpenden
- Industry
- 4542
Why it went into administration
- Creditor pressure / legal action
- Funding withdrawn / unable to refinance
- Property / lease costs
- Sustained trading losses
From the administrators' statement
The company was incorporated on the 8" June 2000 and commenced trading in July 2000 as manufacturers and installers of bespoke wooden furniture from premises at The Coachyard, Fern Grove, Feltham, Middlesex, TW14 9AY_ The lease for the premises 1s held jointly with another company, JBL Furniture Limited, which also occupies the premises The company pays an annual rent of £27,454 in respect of its occupation The company also operates from the adjacent yard on a ten year lease, which has recently been renewed, with an annual rent of £19,079
Turnover for the company was approximately £2 million per annum and 1t employed 28 members of staff prior to any redundancies being made The company was funded by way of an overdraft facility of £175,000 with NatWest Bank Pic The bank holds a fixed and floating charge debenture over the company’s assets and the director has also provided a personal guarantee
Problems arose due to a reduction in turnover as a result of the credit crunch and current economic climate The company suffered losses as it was forced to perform
Administrators' statement of proposals (2011-08-05) · Companies House register