N S Foods Limited (04037081): administration
- Status
- Administration ended
- Administration began
- 2013-09-13
- Formerly
- Ableaction Limited
- Incorporated
- 2000-07-19
- Location
- Exeter
- Industry
- 82990 Other business support service activities n.e.c.
Why it went into administration
- Bad debts / customer insolvency
- Cash flow / liquidity pressure
From the administrators' statement
21 The Company was a wholesale supplier of frozen and dry goods to oriental restaurants and takeaways It had a customer base of approximately 250 throughout the South West of England and operates from Units 4 & 5 Old English Estate, Princetown Road, Dousland, Yelverton, Devon PL20 6NJ
22 The Company had been hit by a number of bad debts This together with a squeeze on margins (approximately 12% gross margin) had all impacted on the Company’s financial position The directors had injected further capital into the business, however, this was not
sufficient for the company to return to solvency
Administrators' statement of proposals (2013-11-01) · Companies House register