Rainbow Flooring Limited (05221884): administration
- Status
- Administration ended
- Administration began
- 2011-07-26
- Administrators' firm
- RSM
- Incorporated
- 2004-09-03
- Location
- London
- Industry
- 4543
Why it went into administration
- Bad debts / customer insolvency
- Sustained trading losses
From the administrators' statement
The original two directors, Ryan L’Estrange and Dwayne Donald Williamson initially operated on a self-employed basis and ran small teams of carpet fitters with subcontractors taken on as and when work was required
Rainbow Flooring Limited was incorporated on 3 September 2004 and in 2006 Mr Willamson relocated to New Zealand and therefore resigned as director on 23 March 2006 The directors had financed the Company with personal loans of £20k with a further injection of funds by way of a loan from the National Westminster Bank Plc of £120k
The Company first started with 2 shops (the lease for which are held in the name of Mr Willlamson) and the commercial business grew out of those shops The shops and customer base were originally purchased from another carpet company for £150k
Administrators' statement of proposals (2011-09-07) · Companies House register