KAT 147 Limited (04197535): administration
- Status
- Administration ended
- Administration began
- 2013-11-08
- Administrators
- Alan Peter Whalley, Sandra Lillian Mundy
- Administrators' firm
- FRP Advisory
- Formerly
- Purrfect PET Care Limited
- Incorporated
- 2001-04-10
- Location
- Reading
- Industry
- 47760 Retail sale of flowers, plants, seeds, fertilizers, pet animals and pet food in specialised stores
Why it went into administration
- Funding withdrawn / unable to refinance
- Competition / price pressure
From the administrators' statement
The Company was incorporated on 10 Apri! 2001 It operated as a retailer of pet supplies trading from seven leasehold premises The premises were located at Eastcote, Bracknell, Petts Wood, Hayes, Caterham, Leatherhead and Egham
The Company made profits of approximately £51,000 in the year to March 2011 but made a loss of approximately £96,000 in the year to March 2012 More recently the Company made a small profit of £34,000 in the year to March 2013 and management accounts for the year to September 2013 indicated a small loss The Company had experienced competition from larger pet superstores which was increasingly affecting turnover
The losses were funded largely by the director who had a loan account with the Company of approximately £220,000 and extended terms from the largest trade supplier who is owed approximately £300,000 By the autumn of this year, however, the trade supplier expressed itself unwilling to support the business tn the longer term As the director felt unable to provide further support the Company was no longer able to continue [t was insolvent on a balance sheet basis in that its liabilities were greater than its assets and a cash flow basis in that it was unable to pay its habilites as they fell due
Administrators' statement of proposals (2013-12-09) · Companies House register