Moto Strada Limited (05059605): administration
- Status
- Administration ended
- Administration began
- 2016-12-20
- Administrators
- Philippa Smith, Kate E Breese
- Administrators' firm
- Smith & Barnes Insolvency Practitioners
- Incorporated
- 2004-03-01
- Location
- Guiseley
- Industry
- 45400 Sale, maintenance and repair of motorcycles and related parts and accessories
Why it went into administration
- HMRC / tax arrears
- Sustained trading losses
From the administrators' statement
The Company was incorporated on 23 March 2010 It operated as a motorbike dealership for new and used vehicles, bike and clothing accessories, in the latter years operating as a bespoke motorbike dealership
During the last 3 years the company experienced a drop in trade This is as a result of a generat reduction in turnover as motorbikes were beginning to be seen as a luxury item and therefore there was a general decline in the purchase of these bikes In addition the retail cost of bikes has increased resulting in the increase being passed on to the customer
As a result of this turnover reduced lowering the overall profit of the Company The Director of the Company sought to improve the position of the company by reducing overheads where possible, reducing staffing levels and reducing the showrooms for 2 units to 1 in an effort to saves costs HM Revenue and Customs (“HMRC’) one of the creditors threatened distraint action over the assets of the Company for unpaid liabilities of the Company
Administrators' statement of proposals (2017-01-26) · Companies House register