Underwood Retail Limited (05276754): administration
- Status
- Administration ended
- Administration began
- 2014-02-28
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2004-11-03
- Location
- Salisbury
- Industry
- 31020 Manufacture of kitchen furniture
Why it went into administration
- Creditor pressure / legal action
From the administrators' statement
We were contacted by the Director on 17 February 2014 by telephone and following that a meeting with the Director and key members of staff took place on 18 February 2014 The purpose of the meeting was to discuss the financial position and performance of the Company
A sub-contractor had filed a petition to wind-up the Company on 11 February 2014
It was clear the Company did not have sufficient cash flow to continue trading and was insolvent on a cash flow basis The Director and key staff believed there was a business worth saving and confirmed they would focus their efforts on finding a buyer for the business and assets
Administrators' statement of proposals (2014-05-01) · Companies House register