Hayes Sales and Letting Limited (05144886): administration
- Status
- Administration ended
- Administration began
- 2015-05-13
- Administrators' firm
- Harrisons Business Recovery and Insolvency
- Incorporated
- 2004-06-03
- Location
- Reading
- Industry
- 68310 Real estate agencies
Why it went into administration
- Cash flow / liquidity pressure
- Sustained trading losses
From the administrators' statement
Prior to the incorporation of the Company, Colleen P Hayes (CPH’) was an estate agent working for a residential estate agency in Cambridgeshire selling properties at the top end of the property market. CPH and Robert J Craig Coldicott (RJCC), who had worked in senior sales, management and marketing roles for a blue chip multinational business, decided that there was a gap In the market and that they could form a business to offer a sales, marketing and sales progression service to vendors of unique, bespoke properties across Herefordshire and into Gloucestershire and Worcestershire
The Company initially traded from leased premises in Ledbury, Herefordshire, where it built up a reputation for offering high standards and customer service to vendors and landlords of period, large and character properties The Company offered both a residential sales and a residential lettings service to its clients.
To expand the Company’s geographical area, additional premises were leased in Monmouth, which opened at the end of 2012 The Director has advised that, unfortunately, this office did not generate the profits that the Directors had anticipated as the lettings market was less than expected in this area. Coupled with this, the Ledbury office was suffering a reduction in sales.
Administrators' statement of proposals (2015-06-16) · Companies House register