A C S Cleaning Limited (05010463): administration and why it failed

A C S Cleaning Limited (05010463): administration

Status: Administration ended
Administration began: 2013-06-20
Administrators: Phillip Francis Duffy, Sarah Helen Bell
Administrators' firm: Kroll
Incorporated: 2004-01-08
Location: Manchester
Industry: 81299 Other cleaning services

Why it went into administration

HMRC / tax arrears
Cash flow / liquidity pressure
Funding withdrawn / unable to refinance
Sustained trading losses
Parent or group failure
Creditor pressure / legal action

From the administrators' statement

Mynt

Mynt was a non-trading holding company incorporated in April 2012 as a vehicle to acquire the share capital of RHS

The purchase consideration was £900k with the initial tranche of £700k funded by way of a loan

Administrators' statement of proposals (2013-08-15) · Companies House register

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A C S Cleaning Limited (05010463): administration

Why it went into administration

From the administrators' statement

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A C S Cleaning Limited (05010463)