Evalve (Southern) Limited (04279473): administration
- Status
- Administration ended
- Administration began
- 2012-06-20
- Administrators
- Terry Evans, Richard Howard Toone
- Administrators' firm
- Insolvency Practitioners of CVR Global
- Formerly
- Evalve Limited; Toofab Limited
- Incorporated
- 2001-08-31
- Location
- Southampton
- Industry
- 5118
Why it went into administration
- Bad debts / customer insolvency
- Over-expansion / investment not recovered
- Sustained trading losses
From the administrators' statement
The Company was incorporated on 31 August 2001 as a pipeline products distributer
The Directors at this point were Phil Burch with 20 years experience in the industry and Carl Jones with experience of running and managing businesses in various sectors This allowed a strong sales and product knowledge to be supplemented with a business and financial background
The initial start up funding was provided by the Directors however, as the business grew, thts was supported by a Factoring agreement with Clydesdale Bank Pic
Administrators' statement of proposals (2012-08-17) · Companies House register