Flexforce Recruitment Limited (05369791): administration
- Status
- Administration ended
- Administration began
- 2014-07-11
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2005-02-18
- Location
- Salisbury
- Industry
- 78109 Other activities of employment placement agencies
Why it went into administration
- HMRC / tax arrears
- Cash flow / liquidity pressure
From the administrators' statement
The Administrators’ statement of proposals for achieving the purpose of the administration which will be sent to creditors as soon as practicable will provide detailed information in relation to the Company However, to assist creditors who may have a limited understanding of the Company and tts affairs to better understand the reasons for the pre-packaged sale, we have provided certain background information at this stage
The Company commenced trading in August 2005 and specialised in providing temporary labour to the Herefordshire market In December 2013 the Company reduced its workforce from three to two employees for financial reasons In February 2014 tt stopped supplying one of tts mayor customers, De Poel Consulting, as profit margins were reduced and payment times grew longer Since then it entered a cycle of making late payments to HMRC in respect of VAT, that resulted in penalties and interest being applied The Company could not generate enough profit to cover these additional costs
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Administrators' statement of proposals (2014-08-14) · Companies House register