Hydrovet & Starmutt's Limited (04505276): administration
- Status
- Administration ended
- Administration began
- 2012-06-25
- Administrators
- Freddy Khalastchi, Martin John Atkins
- Administrators' firm
- Menzies
- Incorporated
- 2002-08-07
- Location
- Whetstone
- Industry
- 8520
Why it went into administration
- Cash flow / liquidity pressure
- Creditor pressure / legal action
- Regulatory change or action
From the administrators' statement
Prior to setting up the company, the director put a tremendous amount of effort into setting up the business and, together with Ms Strong, injected personal funds into the company
The company was also initially funded by a bank loan and overdraft, supported by personal guarantees from both directors In hindsight, the director believes that far too much money was spent on the leasehold premises, leaving the business with insufficient working capital to trade successfully
-3-
Administrators' statement of proposals (2012-07-10) · Companies House register