Eggs & Co Limited (04642763): administration
- Status
- Administration ended
- Administration began
- 2012-06-12
- Administrators
- Simon Robert Thomas, Shelley Bullman
- Administrators' firm
- Moorfields
- Incorporated
- 2003-01-21
- Location
- London
- Industry
- 01470 Raising of poultry
Why it went into administration
- Funding withdrawn / unable to refinance
- Rising costs / inflation
- Sustained trading losses
From the administrators' statement
The Company was incorporated on 21 January 2003 and trades from a site at Lynhams Road, Sewerby, Bridlington, Yorkshire, YO15 1DX (“Trading Premises”)
The Company's principal business interest is poultry farming The poultry farming industry has suffered extremely challenging trading conditions over recent years and rising feed costs have been imposed by suppiters to counteract their loss of margin achieved owing to a decline in wholesale prices This has had a detrimental effect on the Company's working capital and had led to tt being unable to meet its funding requirements.
Moorfields Corporate Recovery LLP ("Moorfields") was approached by the Company's secured creditor Clydesdale Bank Pic (“Clydesdale”) and the Company’s director John Woodley (“Mr Woodley") to undertake an Independent Business Review (“IBR”) over the Company and John Woodley t/a Raans Farm (“Raans Farm”). Clydesdale had become increasingly concerned about the Company’s ability to meet its ongoing requirements with regards to the facilities provided Moorfields presented their findings to Clydesdale and Mr Woodley on 2 April 2012.
Administrators' statement of proposals (2012-07-19) · Companies House register