GO Independent Limited (04039214): administration
- Status
- Administration ended
- Administration began
- 2011-04-21
- Administrators' firm
- BDO
- Incorporated
- 2000-07-24
- Location
- Spinningfields
- Industry
- 7487
Why it went into administration
- Sustained trading losses
From the administrators' statement
The business originally commenced trading circa 25 years ago as Go Independent, an unincorporated partnership owned and managed by Mr R S Owens and Mrs S A Owens. The business specialised in the supply and installation of specialist bathroom equipment for the elderly and less able The partnership was incorporated on 24 July 2000 and the company name was registered as Go Independent Limited.
The business began to experience cash flow issues in 2009 causing the owners to inject further capital to the balance sheet In early 2010, the ownership and control of the company was purchased out by Karen Owens, marketing manager and daughter of the previous owners and by Easability Showers Limited, a company controlled by Nigel Blackburn
Subsequent to the buy-out and equity investment, the fortunes of the company did not improve and the company began to suffer further declines in turnover and the subsequent crystallisation of trading losses resulting from the effects of an overall decline in the construction industry sector. It was observed by management that many customers appeared to be bypassing distributers and procuring items direct from the product manufacturers.
Administrators' statement of proposals (2011-06-03) · Companies House register