Colourspeed Limited (04672987): administration

Status

Administration ended

Administration began

2013-01-24

Administrators

Alisdair James Findlay

Administrators' firm

J Findlay of Findlay James (Insolvency Practitioners)

Formerly

Colourspeed Holdings Limited

Incorporated

2003-02-20

Location

Segensworth East

Industry

47990 Other retail sale not in stores, stalls or markets

From the administrators' statement

Events prior to the Administration The Company was controlled and ran by the Directors

On 28 January 2011 the Company invested heavily in new machinery to enable the firm to take on more orders and run more efficiently In order to make such purchase, they entered into an Asset Purchase Agreement with Close Asset Finance Limited

Shortly after the purchase of the new machinery, customer spending reduced and due to rapid expansion of internet marketing the company started to lose some of its regular custom This resulted in cash-flow problems for the company

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Colourspeed Limited (04672987)

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