G.B. Lovatt (Transport) Limited (04113388): administration
- Status
- Administration ended
- Administration began
- 2011-11-25
- Administrators' firm
- Leonard Curtis
- Incorporated
- 2000-11-23
- Location
- London
- Industry
- 6024
Why it went into administration
- HMRC / tax arrears
- Creditor pressure / legal action
- Cash flow / liquidity pressure
- Property / lease costs
- Competition / price pressure
From the administrators' statement
31 The Company was incorporated on 23 November 2000, at that time acquiring the business that had commenced in 1987 as a sole trader / partnership
32 The business operated as a hauler, with 23 vehicles delivering nationwide it ernployed 32 people including the director.
33 The Company traded from leased premises Payments were up to date at the date of appointment The landlord was also a supplier to the Company, carrying out servicing and repairs to the vehicle fleet The Company moved to the current trading premises 3 years ago, at a reduced rent to what was being paid The move was an attempt to improve security as the Company had experienced a number of break-ins at the former premises and four of the vehicles being set on fire This resulted inaloss of tummover and the business had to operate on a reduced fleet pending receipt of the insurance funds and the insurance premiums nsing by around 50% from £80,000 per annum to £127,000 per annum presently being paid This has had an impact on the Company's cash flow
Administrators' statement of proposals (2012-01-23) · Companies House register