H2H (Leeds) Limited (04685506): administration
- Status
- Administration ended
- Administration began
- 2013-02-07
- Formerly
- Crossco (723) Limited
- Incorporated
- 2003-03-04
- Location
- Cleckheaton
- Industry
- 46310 Wholesale of fruit and vegetables
Why it went into administration
- Sustained trading losses
From the administrators' statement
The Company was incorporated in March 2003 and was owned by Mr John Holland The Company traded in fresh produce as fruit and vegetable wholesalers, serving both secondary wholesale caterers and retailers and traded with a turnover of approximately £7-8 million per annum
Mr lan Palfreeman purchased Mr Holland’s shares in December 2008 This purchase was funded by a loan from the Royal Bank of Scotland (the ‘Bank’) with the consideration being paid over 2 years
The Company continued to trade with relative success until the start of 2012 when a number of larger debtors failed to pay within their agreed credit terms Recovery agents were instructed to assist with the collection of these debts and several payment plans were subsequently agreed This caused a strain on cash flow which was further exacerbated when one debtor was unable to make any form of payment against an outstanding debt of £43,000 Consequently, a charge was taken over the individual's residential property, however, no future method of payment was agreed
Administrators' statement of proposals (2013-04-09) · Companies House register