JHL West Wycombe Garden Centre Limited (04620649): administration
- Status
- Administration ended
- Administration began
- 2011-12-09
- Administrators
- Gareth Wyn Roberts, Paul Ellison
- Administrators' firm
- RSM
- Formerly
- Fisepa 175 Limited
- Incorporated
- 2002-12-18
- Location
- Reading
- Industry
- 5122
Why it went into administration
- Funding withdrawn / unable to refinance
From the administrators' statement
The Company was established in March 2003 by Judith Price (‘JP’) and Catherine Hillier, the latter of which held the position of Director, following the purchase of the business and assets of West Wycombe Garden Centre Limited The Company's sole shareholding ts held by JHL Holdings Limited and tt traded from premises in High Wycombe, Buckinghamshire, which was occupied under a 10 year lease, with an annual rental premium of £21,000 An associated company, JHL Flower Shops Limited, also traded from the premises and the companies effectively operated as one
JP provided the initial funding to purchase the business and assets Significant investment then followed, which was added to by Catherine Hillier in the form of a loan It was known that Initially both businesses would both make a financial loss and this loss was primarily funded by JP It was expected that after the first 3-5 years a profit would be made and not require ongoing owner funding
The premises was taken over in some state of disrepair, having under-traded as a Garden Centre for some years, and much of the outside space was neglected and closed off to the public The Directors took over the business with the intention of restoring the Garden Centre to its historical glory and operating potential, along with introducing a food and floristry. operation to complement and add to the site’s success Much initial construction work was undertaken to make the outside and inside space usable for such a purpose at great investment on behalf of the business owners
Administrators' statement of proposals (2012-02-10) · Companies House register