Trostre Retail Limited (04339316): administration
- Status
- Administration ended
- Administration began
- 2012-01-09
- Administrators
- Anne Clare O'Keefe, Charles Peter Holder, Simon Wilson
- Administrators' firm
- AlixPartners
- Formerly
- Inhoco 2573 Limited
- Incorporated
- 2001-12-13
- Location
- Manchester
- Industry
- 68100 Buying and selling of own real estate
Why it went into administration
- HMRC / tax arrears
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- Creditor pressure / legal action
- Property / lease costs
From the administrators' statement
The Company was incorporated in December 2001 and successfully developed a number of retail property schemes Only one of these schemes remains under the Company’s ownership and 1s a retail complex on Manchester Road, Bolton (the Complex).
The Complex comprises seven retail units of varying sizes which were let to third party operators The Company operated as landlord to these properties via a firm of managing agents, Riddell tps Limited (Riddell).
Given the difficult retail trading environment, three tenants at the Complex entered varying forms of insolvency proceedings from late 2009 onwards As the tenants vacated the Complex, no further rent was received from them and attempts to re-let the units were unsuccessful This led to a significant increase in holding costs for the Company which resulted 1n a significant burden on its operating cashflow.
Administrators' statement of proposals (2012-02-23) · Companies House register