# Claim Care UK Limited (04193801)

> Why UK company 04193801 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/04193801

- **Status:** Administration ended
- **Administration began:** 2011-11-10
- **Administrators' firm:** Springfields Business Recovery & Insolvency
- **Incorporated:** 2001-04-04
- **Location:** Leicester
- **Industry:** 6603

## Why it went into administration

- Cash flow / liquidity pressure
- Competition / price pressure

## From the administrators' statement

The Company was formed and founded in April 2001 to operate the business of undertaking building work on behalf of claims handling companies who deal with insurance claims on behalf of insurance companies. The Company operated for a small number of such clarms handling companies. Fees were due to the claims handling company from the Company for the work on which the Company was instructed.

Initially trade went well and the company made modest profits. In 2002 the company obtained an overdraft facility with National Westminster Bank Plc which was secured by a fixed and floating charge and guaranteed by the directors personally. This was obtained to assist with cash flow and to allow the Company to expand

The contracts with the claims handling companies were made in such a way that they made payment as and when they were able, in practice usually not until they received the funds from the insurance company. This led to significant cash flow problems for the Company

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/04193801/filing-history/MzA1MDEwNzA4MWFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/04193801

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.