Barraclough Edwards Chamberlain Limited (04788958): administration
- Status
- Administration ended
- Administration began
- 2012-12-03
- Administrators' firm
- Robert of Kingston Smith & Partners
- Incorporated
- 2003-06-05
- Location
- London
- Industry
- 73110 Advertising agencies
Why it went into administration
- Funding withdrawn / unable to refinance
- Property / lease costs
- Sustained trading losses
From the administrators' statement
The Company was a marketing agency, which offered data analysis, direct targeting, copywriting and design and print management to their clients The Company was facing financial difficulty due to a number of factors The Directors cite the recent recession as a major factor as clients often look to reduce their marketing budgets first during hard financial times The Directors also attributed declining performance to the loss of a key member of staff, which lost the Company contracts with large and loyal clents There was also a considerable, mounting debt to HM Revenue & Customs
The Company attempted to rectify its financial problems by relocating to the offices of Campbell Lace Beta Limited (Beta) in mtd 2012 This would reduce overheads/lease costs and the Company also secured funding through loans from Beta Despite these measures, the Company continued to face difficultes and Beta were unwilling to provide any more funds as it was clear that the Company could not be maintained on its own footing
After seeking advice from their-financial advisors CWC Resources, the Company was introduced to the Administrator, lan Robert of Kingston Smith & Partners LLP in November 2012 who advised that the best course of actton would be an Administration
Administrators' statement of proposals (2013-02-06) · Companies House register