Sheridan Maine Limited (04987440): administration
- Status
- Administration ended
- Administration began
- 2011-04-06
- Administrators' firm
- FRP Advisory
- Formerly
- SML Recruitment Limited; Sheridan Maine Limited; SML Accountancy Limited
- Incorporated
- 2003-12-08
- Location
- London
- Industry
- 7450
Why it went into administration
- HMRC / tax arrears
- Cash flow / liquidity pressure
- Loss of a key customer, supplier or contract
- Funding withdrawn / unable to refinance
- Creditor pressure / legal action
- Bad debts / customer insolvency
- Sustained trading losses
- Competition / price pressure
From the administrators' statement
The Company operated from leased premises in Southampton, Basingstoke and London It ts a specialist finance and accountancy recruitment consultancy, providing permanent, contract, temporary and interim positions
The Company was established as an executive search business Following the appointment of a new managing director in 2001, the business diversified into sentor finance recruitment and established a strong brand across the South Coast within this sector A part qualified accountancy recruitment business was launched in 2004 to compliment the seniur finance business under the name of SML Accountancy Following a successful launch Sheridan Maine and SML Accountancy were merged in 2007 and structured divisionally to cover part qualified, qualified and executive recruitment into the Finance and Accountancy sector The business expanded its operations into Southampton, Basingstoke and Bracknell with the executive division operating out of Richmond In 2008 the business had grown to a turnover of circa £6m employing 38 staff.
The Company formed part of the Options Group and attached at Appendix A Is a group structure to provide an overview of the ownership of the Company tself and its relationship within the wider Options Group The Options Group formed part of a wider group owned by two private family shareholdings
Administrators' statement of proposals (2011-06-09) · Companies House register