Dent Limited (05383644): administration
- Status
- Administration ended
- Administration began
- 2013-12-02
- Administrators
- Adrian Peter Berry, Clare Boardman
- Administrators' firm
- Deloitte
- Formerly
- Chris 1409
- Incorporated
- 2005-03-04
- Location
- Leeds
- Industry
- 01460 Raising of swine/pigs
Why it went into administration
- Funding withdrawn / unable to refinance
- Loss of a key customer, supplier or contract
- Sustained trading losses
From the administrators' statement
in the months prior to the appointment of the Administrators, Deloitte was asked by Barclays who provided the Company with funding to review the Company's business model and the likely profitability and cash flow of the Company moving forward A further phase of work was completed which involved a review of the longer term forecasts
That work identified that the Company was loss making and not generating sufficent cash to service its debt obligations and on 5 November 2013 the directors of the Company decided that the loss making position of the Company was no longer sustainable and took steps to market the business for sale and approached its main customers, Cranswick and Tulip A Notice of Intention to appoint administrators was filed by the directors on 5 November 2013 to provide protection for the Company from creditor actions whilst sale options were explored and an insolvency trading strategy developed
Deloitte was instructed to undertake a contingency planning exercise, and trading forecasts were prepared to understand the trading strategy, trade out result and the short term funding requirement of the insolvency
Administrators' statement of proposals (2014-01-15) · Companies House register