# Cedars Recovery Services Limited (05098858)

> Why UK company 05098858 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/05098858

- **Status:** Administration ended
- **Administration began:** 2012-02-06
- **Formerly:** Cedars Recovery Limited
- **Incorporated:** 2004-04-08
- **Location:** Croydon
- **Industry:** 9305

## Why it went into administration

- HMRC / tax arrears
- Competition / price pressure

## From the administrators' statement

The joint administrators met with the director and the company's accountant on 11 August 2011 At this stage the company was struggling through a quiet summer and had fallen into arrears with its PAYE and VAT However, it had acquired the business of a competitor and the director was confident of increased business and greatly improved profitability going forward

For these reasons it appeared that a company voluntary arrangement (“CVA”) was feasible and would provide the best return to creditors The company’s bankers were supportive of the proposed CVA and on 8 November proposals were sent to creditors The joint administrators acted as joint nominees in relation to the proposal

Vanous queries were raised by HM Revenue & Customs and these were answered by the nominees and by the company's accountant A meeting of creditors was held on 28 November at which it was anticipated that the proposal would be approved, but in the event it was adjourned seven days to allow HMRC to consider their position further At the adjourned meeting on 5 December, HMRC indicated that they would not support the CVA and it was formally resected

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/05098858/filing-history/MzA1NDQ3NjA3M2FkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/05098858

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.