LSJ Realisations 2015 Limited (04845343): administration
- Status
- Administration ended
- Administration began
- 2015-01-22
- Administrators
- Peter Hart, James Earp
- Administrators' firm
- Co James Earp & Associates
- Formerly
- Jonathan Saunders Ltd
- Incorporated
- 2003-07-25
- Location
- London
- Industry
- 46420 Wholesale of clothing and footwear
Why it went into administration
- Funding withdrawn / unable to refinance
From the administrators' statement
Appendix C shows the Company's financial statements for the years ended 31 March 2012, 31 March 2013 and the nine month period ended 31 December 2013
In October 2014 JEAL and GM&Co were instructed by the Company for the purpose of conducting an independent business review (“the Phase 1 instruction”) The Phase 1 instruction was completed on 3 November 2014 This review indicated that the Company was insolvent and could not continue to trade uniess its historic debts could be restructured and new capital introduced
The advice provided under the Phase 1 instruction identified that there were a number of options available to the Company The most favourable option would be for the Company to seek to refinance and restructure its debts to enable it continue trading without the need to enter a formal insolvency procedure In the event that this could not be achieved the Company would achieve the optimum return to creditors through a sale of its business and assets as a going concern
Administrators' statement of proposals (2015-03-10) · Companies House register