New Century Electrical Limited (04703483): administration
- Status
- Administration ended
- Administration began
- 2013-10-04
- Administrators
- Daniel Plant, Simon Franklin Plant
- Administrators' firm
- SFP Restructuring
- Incorporated
- 2003-03-19
- Location
- Marsh Wall
- Industry
- 47789 Other retail sale of new goods in specialised stores (not commercial art galleries and opticians)
Why it went into administration
- Bad debts / customer insolvency
- Competition / price pressure
From the administrators' statement
Albert that statutory information 1s contained in Appendix Il, these Proposals provide bnef details in relation to the Company's history
The business was established in 2000 as a partnership operating as a high-street based electrical retailer Mr Downham, Mr Briggs and Mr Vine were the partners, with each having relevant industry experience Start-up costs were met by way of personal funding and a bank overdraft The business operated from the Trading Premises
After several months however, Mr Vine extricated himself from the partnership After several more years, Mr Downham and Mr Bnggs were advised by their accountant to change the business status from partnership to a private limited company Accordingly, the Company was incorporated on 19 March 2003
Administrators' statement of proposals (2013-10-30) · Companies House register