Evolve Developments Limited (04280304): administration
- Status
- Administration ended
- Administration began
- 2012-02-27
- Administrators
- Julian Pitts, Robert Alexander Henry Maxwell
- Administrators' firm
- Begbies Traynor
- Formerly
- Philip Gerard Properties (Ranmoor) Limited
- Incorporated
- 2001-09-03
- Location
- Leeds
- Industry
- 7011
Why it went into administration
- Rising costs / inflation
- Cash flow / liquidity pressure
From the administrators' statement
The Company was orginally incorporated in 2001 using an existing off the shelf company, Philip Gerard Properties (Ranmoor) Limited, to develop and sell real estate Christopher Cooke has been a director from incorporation The Company was dormant until February 2008 when It became known as its current name and undertook to complete its first development in Mosborough, Sheffield
The Company then purchased a development in Tapton, Sheffield in Spnng 2008 Despite intending to complete and sell the development, tt became apparent that the property market was in decline This, together with rising costs due to incorrect plans prepared for the Company on the development, put the Company under significant cashflow pressure
Although attempts were made to rectify the faults in the initial plans, the replacement plans produced were also incorrect, and, as a consequence, this led to further increased costs of carrying out additional works to complete the development
Administrators' statement of proposals (2012-04-25) · Companies House register