Bill Plant Limited (04597038): administration
- Status
- Administration ended
- Administration began
- 2017-04-27
- Administrators
- Howard Smith, Jonathan Charles Marston
- Administrators' firm
- KPMG
- Incorporated
- 2002-11-21
- Location
- Leeds
- Industry
- 85530 Driving school activities
Why it went into administration
- HMRC / tax arrears
- Sustained trading losses
- Competition / price pressure
From the administrators' statement
The Company was incorporated on 21 November 2002 and operated as a Learner Driver School with approximately 400 franchisees throughout the country. The Company provided administration support, bookings and vehicles. The Company’s vehicle fleet is split between vehicles subject to HP finance and rental vehicles. As outlined in Section 2 - Group Structure, the Company is owned by BPHL (80%), Mr William Plant (10%) and Ms Diane Plant (10%).
KPMG was first engaged by the Company on 15 September 2016 to review the options available to it in seeking further investment. KPMG assisted the Company to carry out a marketing process whereby 89 parties were contacted. This resulted in 6 parties signing a Non-Disclosure Agreement to receive an Information Memorandum and two parties entered into discussions with management.
An agreement was reached with Broadoak in November 2016. BPHL was incorporated to acquire 80% of the share capital! of the Company and inject further working capital.
Administrators' statement of proposals (2017-05-30) · Companies House register