New ERA Aquaculture Limited (05055978): administration
- Status
- Administration ended
- Administration began
- 2015-07-06
- Administrators
- Nicholas Edward Reed, Julian Pitts
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2004-02-25
- Location
- Leeds
- Industry
- 03210 Marine aquaculture
Why it went into administration
- Sustained trading losses
- Competition / price pressure
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
From the administrators' statement
The Administrators’ statement of proposals for achieving the purpose of the admunistration which will be sent to creditors as soon as practicable will provide detailed information tn relation to the Company However, to assist creditors who may have a limited understanding of the Company and its affairs to better understand the reasons for the pre-packaged sale, we have provided certain background information at this stage
The Company was a well established manufacturer and distributor of premium quality nutntious fish food, trading from leasehold premises in Doncaster Customers included public aquariums, specialist pet and aquatic stores and major pet suppliers It began to trade in February 2004
The Company's draft management accounts for the year ended 12 December 2014, stated turnover of £1 49m and the last set of draft management accounts to the end of March 2015, indicated turnover of £416k The Company was loss making in both these periods
Administrators' statement of proposals (2015-08-20) · Companies House register