Greyline Estates Ltd (04425582): administration
- Status
- Administration ended
- Administration began
- 2012-03-14
- Administrators
- Brian Green, David James Costley-Wood
- Administrators' firm
- KPMG
- Incorporated
- 2002-04-26
- Location
- Manchester
- Industry
- 68100 Buying and selling of own real estate
Why it went into administration
- Funding withdrawn / unable to refinance
From the administrators' statement
The Bank provided a term loan to the Company that had expired in 2011 at which point the director was asked to seek refinance for the portfolio The director began to explore the opportunity to refinance the business via an alternative finance provider
The Company submitted a number of refinance proposals to the Bank for repayment of the debt but was unable to obtain the funding that would be required to support these proposals from another lender
Consequently, the Bank took the decision to imttiate proceedings to seek to recover their
Administrators' statement of proposals (2012-05-14) · Companies House register