Transervex (UK) Limited (04061035): administration
- Status
- Administration ended
- Administration began
- 2017-09-01
- Administrators
- Anthony Collier, Ben Woolrych
- Administrators' firm
- FRP Advisory
- Incorporated
- 2000-08-29
- Location
- Manchester
- Industry
- 45320 Retail trade of motor vehicle parts and accessories
Why it went into administration
- Cash flow / liquidity pressure
From the administrators' statement
The Company was incorporated on 29 August 2000 and traded from leasehold premises in Bootle, Merseyside, manufacturing and distributing radial arms, windscreen wiper equipment and other associated components for the bus and coach industry in the UK.
The Company had 11 employees, including the two directors Scott and Robert Mcwha. The directors each hold 44% of the Company’s share capital, with the remaining 12% held by Labrador Investments Limited, a third party holding company. Scott and Robert McWha own the Company's trading premises personally.
The Company was funded by an invoice finance facility, provided by Factor 21 since October 2016, and an EFG term loan with Natwest. On appointment, Factor 21 were owed the sum of £138,149, whilst NatWest were owed a balance of £41,084.
Administrators' statement of proposals (2017-09-27) · Companies House register