Harrison Holidays Limited (05336184): administration
- Status
- Administration ended
- Administration began
- 2011-11-16
- Administrators
- Jamie Playford
- Administrators' firm
- Acuity Professional Partnership
- Incorporated
- 2005-01-18
- Location
- Norwich
- Industry
- 6330
Why it went into administration
- Funding withdrawn / unable to refinance
From the administrators' statement
Harnson Holidays Limited (“the Company”) was incorporated on 18 January 2005 The Company traded as Harnson Holidays and provided coach holidays to the general public The Company's trading premises was located at 3 High Street, Kings Lynn, Norfolk, PE30 1BX (‘the Property”) which ts registered in the name of Mr P G Harnson (“the director’) The Company serviced customers in Norfolk, Cambndgeshire, Lincolnshire and the surrounding areas
The ‘Harnson Holidays’ brand was established in 1952 when the director's father developed his hobby of operating coach tnps for loca! schools into a business and the first ‘Harrison Holiday’ coach tnp departed in 1952 The director’s father traded as a sole trader In 1985 the director took over the business and formed a partnership with another The partnership traded successfully for a number of years and the brand soon became a household name The partnership ceased in 2005 when the other partner passed away At this point the director approached an accountant and took advice on incorporating the business into a limited company On 18 January 2005 Hamison Holidays Limited was incorporated Since incorporation the Company has provided coach tours for over 35,000 customers
In 2005 the director negotiated an overdraft facility with HSBC Bank Ple (“HSBC”) who insisted on secunty over the Property In 2009 the director requested HSBC increase the Company's overdraft facility but on review of the business, HSBC instead reduced the overdraft facility from £220,000 to £150,000 and demanded re-payment of the £70,000 immediately This put obvious strain on the Company's cash flow.
Administrators' statement of proposals (2012-02-08) · Companies House register