Adiwell Limited (05167787): administration
- Status
- Administration ended
- Administration began
- 2015-09-14
- Administrators
- Kerry Bailey, Sarah Megan Rayment
- Administrators' firm
- BDO
- Incorporated
- 2004-07-01
- Location
- Liverpool
- Industry
- 68100 Buying and selling of own real estate
Why it went into administration
- Sustained trading losses
From the administrators' statement
The Company was incorporated on 1 July 2004 as a joint property venture between Flodrive Holdings Limited (“FHL”) and EBNZ Limited
The Company owns and manages 12 commercial and residential properties. Four of the properties were funded by West Bromwich Commercial Limited (“WBCL”), with the remainder being financed by HSBC Bank Plc (“HSBC”) (together “the Banks”).
The Company has historically been loss making and the audited accounts for the year ended 30 April 2014 suggest that it was insolvent on a balance sheet basis However, the joint venture partners have been financially supportive, making contributions when required
Administrators' statement of proposals (2015-11-11) · Companies House register