# Colourspeed Limited (04672987)

> Why UK company 04672987 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/04672987

- **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

## Why it went into administration

- Cash flow / liquidity pressure
- Over-expansion / investment not recovered

## 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

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/04672987/filing-history/MzA3NTU0NDEwNGFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/04672987

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.