Acorn Properties (North) Limited (04661208): administration
- Status
- Administration ended
- Administration began
- 2012-07-06
- Administrators
- Julian Pitts, Adrian Graham
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2003-02-10
- Location
- Sheffield
- Industry
- 43290 Other construction installation
Why it went into administration
- Creditor pressure / legal action
- Competition / price pressure
From the administrators' statement
The Company was incorporated in February 2003 by Paul Cooke and Rachel Adams to develop existing properties or purchase vacant land to develop new properties Mr Cooke had previous expenence working for a large construction company before the Company was incorporated
Finance was onginally injected into the Company from both the directors who invested £30,000 each Any property purchases were also secured through lending facilities available from various banks
Initially the Company purchased tts first property for £68,000 and sold for over £100,000 There was no maximum purchase price paid for the properties and the price would vary given the type of development The highest purchase was for four houses which totalled £900,000
Administrators' statement of proposals (2012-08-23) · Companies House register