Bar 2064 Limited (04281845): administration
- Status
- Administration ended
- Administration began
- 2025-05-12
- Incorporated
- 2001-09-05
- Location
- Ilford
- Industry
- 82990 Other business support service activities n.e.c.
Why it went into administration
- HMRC / tax arrears
- Loss of a key customer, supplier or contract
From the administrators' statement
As detailed above, the Company had suffered due to the loss of two major customers and pressure from creditors was mounting.
The director therefore reviewed the financial position to ascertain what options it had as it was clear the Company could not contunie to trade. The Company was entirely dependent on the services provided by Procap but additionally, many of the customers were embedded in and relied upon their close relationship with the Company. Many clients had been customers for a large number of years and a number relied on the Company for their entire labour force. Therefore any breaks or interruption of that supply would severely impact that customer. The consequence of any interruption could be that these customers would refuse to pay, or not be able to pay outstanding debt. Additionally, the Company could suffer claims from customers, employees and sub-contractors.
Taking these factors into account Procap believed that continuity of supply was of critical importance and that a transfer of the trade from the Company to a business controlled by the directors of Procap, was in the best interest of the creditors.
Administrators' statement of proposals (2025-06-20) · Companies House register