Le-Al Furniture Limited (05284862): administration
- Status
- Administration ended
- Administration began
- 2017-09-22
- Incorporated
- 2004-11-12
- Location
- Stockport
- Industry
- 31010 Manufacture of office and shop furniture
Why it went into administration
- HMRC / tax arrears
- Creditor pressure / legal action
- Bad debts / customer insolvency
From the administrators' statement
immediately before the Administration the company was faced with the position that HMRC had threatened to petition for a compulsory winding-up and had demanded cash payment of £180,000 in addition to the outstanding debt which the company did not have, the bank account had been closed and wages were due for immediate payment. Attempts had been sought previously to achieve a sale as a going concern and this had proved unsuccessful.
During the period before the Administration some £120,000 had been injected into the company but it still did not generate sufficient sales and the company remained insolvent. Besides the demand for £180,000, HMRC had an outstanding debt of £150,742 which was to be the basis of their winding-up petition. Examination of the company’s books provided a basis to calculate the company’s worth which had been adopted at the point in January when the initial sale took place. The figures were as follows:
2017 2016 2014 2013
Administrators' statement of proposals (2017-11-29) · Companies House register