Babco UK Ltd. (04070060): administration
- Status
- Administration ended
- Administration began
- 2024-01-24
- Administrators
- Robert Neil Dymond, Joanne Louise Hammond
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2000-09-12
- Location
- Northampton
- Industry
- 46342 Wholesale of wine, beer, spirits and other alcoholic beverages
Why it went into administration
- Creditor pressure / legal action
- HMRC / tax arrears
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
From the administrators' statement
Founded in 1999, the Company was incorporated as a Limited company on 12 September 2000, with Christopher Peter Bowen (“CPB”) and Mark Anthony Wilson being appointed directors. Despite a change in management over the years, CPB has been the sole director of the Company since 2019.
The Company is part of a group of companies, wholly owned by Babco invest Co Limited (“Babco Invest”). In 2021, Babco Invest acquired the brand Neptune Rum. The takeover was part of the Company's ambition to grow and diversify its plans within the industry. Neptune Rum Limited (“Neptune Rum”) was incorporated on 17 June 2020 by James Strickland and Raymond Pugh. On 27 January 2021, CPB was appointed as a director of Neptune Rum. Subsequently, on 19 May 2021, Christopher Lewis Bowen (“CLB”) was also appcinted as a director of Neptune Rum. Raymond Pugh and James Strickland both resigned as directors of Neptune Rum on 26 September 2022.
Babco Invest is the Company’s ultimate parent entity and holds 100% of the fotal share capital (split as 51 Ordinary A shares and 49 Ordinary B shares). CPB is the ultimate shareholder in respect of a 75% shareholding in Babco Invest.
Administrators' statement of proposals (2024-02-24) · Companies House register