Dutchpot Limited (04518181): administration
- Status
- Administration ended
- Administration began
- 2011-06-24
- Incorporated
- 2002-08-23
- Location
- London
- Industry
- 5552
Why it went into administration
- Creditor pressure / legal action
- Competition / price pressure
From the administrators' statement
Dutchpot Limited was incorporated in August 2002 to further develop Mr Collins exstng sole trader business The company contnued to trade successfully from the leasehold property at 427 Dudley Road and employed five members of staff which consisted of family and close fnends
Trade continued to grow into 2004 and the director made the decision to expand the company by way of purchasing a freehold property In order to fund the purchase of the property and expansion of the business a personally guaranteed company loan of £40,000 was taken from Lloyds Bank In addition the director borrowed £28,000 off close fnends to assist further The accumulated funds were used as a deposit on the purchase of the property at 448 Birchfield Road, for which a mortgage was taken out with Lloyds TSB Bank
The company contnued to trade successfully to early 2007 when the landlord of 427 Dudley road advised the director that the premises was to be refurbished Rather than cease business from the area entirely, Mr Collns made the decision to move the business fo a temporary premises whilst the refurbishments were undertaken The refurbishments were completed over a penod of ten months and trade suffered due to the temporary property being much smaller than the previous site
Administrators' statement of proposals (2011-08-23) · Companies House register