Connoisseur Estates Limited (04385570): administration
- Status
- Administration ended
- Administration began
- 2020-01-16
- Administrators
- Richard Patrick Brewer, Matthew Richard Meadley Wild
- Administrators' firm
- RSM
- Incorporated
- 2002-03-01
- Location
- Chandlers Ford
- Industry
- 46342 Wholesale of wine, beer, spirits and other alcoholic beverages
Why it went into administration
- Creditor pressure / legal action
- Cash flow / liquidity pressure
From the administrators' statement
The Company was incorporated in 2002 and had an established reputation in the sector as a wine importer, wholesaler and agent. It traded from a leasehold property at Forest Road, Wokingham, Berkshire, RG40 5SE, employing 4 members of staff.
Financial difficulty arose as the Company began to experience cash flow difficulties and creditor pressure arising from an under capitalised move from high volume/low margin business to lower volume/shigher margin.
The Company's main creditor, Botter SPA, is owed £737,643 and issued a statutory demand on 21 November 2019 which had precipitated the filing of the first Notice of intention to appoint administrators.
Administrators' statement of proposals (2020-03-13) · Companies House register