Bostonhull Limited (04578471): administration
- Status
- Administration ended
- Administration began
- 2012-07-05
- Administrators
- David Patrick Meany
- Administrators' firm
- Mark Proudley Mnava of Proudley Associates
- Incorporated
- 2002-10-31
- Location
- Ringwood
- Industry
- 10831 Tea processing
Why it went into administration
- Cash flow / liquidity pressure
- Property / lease costs
From the administrators' statement
Bostonhull Limited (“the Company”) was incorporated on 31 October 2002 to carry on business as producers of consistent fanning grade teas from quality assured tea dusts
The Company has been financed with mitial loans in December 2006 from two of the shareholders, Mr Daggy and Mr Ratzke of approximately £36,000 secured by way of a chattel mortgage, and subsequent additional uunsecured loans from the shareholders and a connected company Exertis of approximately £86,000 and £20,000 respectively In addition the Company was supported with loan and overdraft facilities from Lloyds TSB Bank Plc, which to date amount to approximately £77,000, which were unsecured against the company but personally guaranteed by the directors
On 4 March 2010 the Company moved to its existing leaseho!d premises, which are held on a 10 year lease at a passing rent of £42,500 and secured with a 3 month rent deposit
Administrators' statement of proposals (2012-09-04) · Companies House register