Football Factors Limited (04850422): administration
- Status
- Administration ended
- Administration began
- 2011-12-02
- Administrators
- Julian Pitts, David Frederick Wilson
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2003-07-30
- Location
- Leeds
- Industry
- 7414
Why it went into administration
- Cash flow / liquidity pressure
- HMRC / tax arrears
- Sustained trading losses
- Regulatory change or action
- Competition / price pressure
From the administrators' statement
Football Factors Limited ("FFL") (“the Company”) was incorporated on 30 July 2003 as an advisory and representation service for football athletes, managers and clubs facing disciplinary proceedings from the Football Association (“FA”) The Company specialised in providing a comprehensive representation service to all sectors of the football industry, offering a bespoke investigation and case preparation mode! to each specific customer The Company operated from head quarters located in Wakefield, West Yorkshire, the nature of the business enabling the Directors to travel to each specific clent
Banking facilities were provided by Lloyds TSB Bank Plc ("the Bank”) who provided a Business Loan to the Company of £26,000 secured by a second charge on the Directors’ personal residential property In 2007, the Company entered into a Factoring Agreement with Lloyds TSB Commercial Finance Limited ("LTSBCF”) who consequently held a debenture created on 22 June 2007 and registered on 23 June 2007, by ways of fixed and floating charge over the entire assets and undertakings of the Company
The Company focused on its specialist consultancy service covenng all aspects of FA disciplinary and regulatory issues and subsequently built up a strong reputation in the market, its repute earning FFL a ‘blue chip’ client base of Premier League Football Clubs, high profile football managers and chief executives These exclusive relationships were built between key company personne! and their strategic relations with select customers
Administrators' statement of proposals (2012-02-09) · Companies House register