JHL Flower Shops Limited (04620659): administration
- Status
- Administration ended
- Administration began
- 2011-12-09
- Administrators
- Gareth Wyn Roberts, Paul Ellison
- Administrators' firm
- RSM
- Formerly
- Fisepa 176 Limited
- Incorporated
- 2002-12-18
- Location
- Reading
- Industry
- 5248
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- Funding withdrawn / unable to refinance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 was appointed Director The Company’s sole shareholding is held by JHL Holdings Limited and it traded from premises in High Wycombe, Buckinghamshire The Company was formed as an addition to an already existing garden centre business, which traded from the same location and has common Directors and shareholders and the companies effectively operated as one
JP provided the initial funding to set up the business Significant investment then followed, which was added to by Catherine Hillier in the form of a loan It was known that initially the business would 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 started the business with the intention of restoring the Garden Centre to its historical glory and operating potential by introducing a food and floristry operation to complement and add to the site’s success Much inital 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 (2012-02-13) · Companies House register