Sovereign Paperboard Company Limited (04919965): administration
- Status
- Administration ended
- Administration began
- 2012-04-13
- Administrators
- Martha Honara Thompson, Geoffrey Stuart Kinlan
- Administrators' firm
- BDO
- Incorporated
- 2003-10-02
- Location
- Hatfield
- Industry
- 46190 Agents involved in the sale of a variety of goods
Why it went into administration
- Competition / price pressure
From the administrators' statement
The Company was incorporated on 2 October 2003 and operated from leasehold premises near to St Albans in Hertfordshire. The Company specialised in the supply of products into the paper & packaging industry, typically sourcing the product from overseas suppliers for domestic customers.
Shortly after incorporation the Company entered into an invoice discounting facility to assist with the Company’s cash flaw The invoice discounting provider was changed in March 2005 and again, in June 2007, to RBS Invoice Finance (“RBSIF”),
In March 2012, RBSIF’s regular audit of the Company’s book debt ledger identified a number of queries on the ledger which indicated that there would be a substantial shortfall to RBSIF.
Administrators' statement of proposals (2012-07-10) · Companies House register