Dalbury Limited (05150631): administration
- Status
- Administration ended
- Administration began
- 2019-04-10
- Administrators' firm
- Deloitte
- Incorporated
- 2004-06-10
- Location
- Birmingham
- Industry
- 01410 Raising of dairy cattle
Why it went into administration
- Funding withdrawn / unable to refinance
- Sustained trading losses
From the administrators' statement
The Company began experiencing a decline in trading performance in 2013 due to difficulties in the agricultural sector and lack of working capital in the business. It was apparent at this stage that the Company and JAL needed to sell assets to de-gear the position, reduce the level of borrowing and make debt serviceability more achievable.
Mr Laing also entered into a Joint Venture Agreement for the dairy business with a third party. The agreement has been terminated however the tenancy dispute needs to be resolved,
Steps taken to remedy/turnaround
Administrators' statement of proposals (2019-06-12) · Companies House register