# Wharf Land Investments Limited (04691796)

> Why UK company 04691796 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/04691796

- **Status:** Administration ended
- **Administration began:** 2013-03-05
- **Administrators:** Daniel Francis Butters, Robert James Harding, Nicholas Guy Edwards
- **Administrators' firm:** Deloitte
- **Incorporated:** 2003-03-10
- **Location:** Birmingham
- **Industry:** 41100 Development of building projects

## Why it went into administration

- Cash flow / liquidity pressure
- HMRC / tax arrears

## From the administrators' statement

The Company faced financial pressure as a result of the economic downturn which severely affected the property market from 2008 Most of the Company's projects stopped because further funding was required to enable planning consents to be obtained which would enhance land values Additionally property values kept falling, which left the Company unable to realise any of tts interests under the property advisory agreements

However, continuing employee costs and operational expenses had to be met, which put additional cash pressure on the Company

The loan provided by the Bank to Humber Land 1 to finance the purchase of the freehold industrial site in Grimsby expired in August 2012 The Bank was willing to give time to the Directors to assess if the Company and/or Group could be restructured and the outstanding bank debt of approximately £5 6m settled Although the rental stream continued to service this debt the facility has not been renewed by the Bank

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/04691796/filing-history/MzA3NzQxMjE0MWFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/04691796

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