Hopwell Heritage Limited (04321284): administration
- Status
- Administration ended
- Administration began
- 2012-09-28
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2001-11-12
- Location
- Nottingham
- Industry
- 47990 Other retail sale not in stores, stalls or markets
Why it went into administration
- Cash flow / liquidity pressure
From the administrators' statement
The Company was incorporated in 2001 and traded as a retailer of chenshed vehicle registration numbers The business operated from leasehold premises and traded within the industry as Reghunter The Company, although historically had reported small profits, had in recent years been reporting losses on an annual basis and as a cansequence had recently suffered several cash flow pressure points The decline in the Company's fortunes has coincided with the economic
Begbies Traynor were initially instructed in February 2012 by Clydesdale Bank plc (T/as Yorkshire Bank) to undertake a bnef review of financial position of the Company Although the Director had recently suffered iIIhealth, the fact that private registration numbers are seen as a luxury Item and only generally purchased in a buoyant affluent economy, the Company was beginning to struggle in meeting its ongoing commitments to its financiers Our review concluded that although the Company was suffering some financial pressure, it was not, at that time, critical An appropnate resolution was agreed between the Company and the Bank, though due to continued difficult economic pressure, in September this year the Company was no longer able to meet its ongoing commitments and the Bank, after reviewing further updated financial information, felt tt had little alternative but to appoint Administrators to preserve the value of the Company assets to recover its indebtedness Accordingly, following discussions between the Company and the Bank, Joint Administrators were appointed on 28 September 2012
Administrators' statement of proposals (2012-11-20) · Companies House register