Stephensons of Easingwold Limited (04433156): administration
- Status
- Administration ended
- Administration began
- 2018-01-23
- Administrators
- Lee Van Lockwood, Robert Alexander Henry Maxwell
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2002-05-08
- Location
- Leeds
- Industry
- 49390 Other passenger land transport
Why it went into administration
- Funding withdrawn / unable to refinance
- Sustained trading losses
From the administrators' statement
The business was originally formed as a partnership by the Stephenson family in 1990 and subsequently incorporated as a limited company in May 2002. The Company recently traded from its leasehold premises located at Tholthorpe, York, as well as operating a depot in Kirkbymooreside.
The Company was established to provide bus and coach travel services for the Yorkshire and North East regions. It carried out bus and coach services for private hire customers, as well as school travel and public transport routes. The contracts with the local councils for the school and public transport routes generated the highest level of income. These had to be tendered for on a regular basis and retention of these contracts was essential for the business.
Initial working capital was provided by the directors personally as a result of the previously successful partnership. The Company latterly banked with HSBC Bank pic, and operated an overdraft facility with a limit
Administrators' statement of proposals (2018-03-23) · Companies House register