P & C Realisations Limited (05409653): administration
- Status
- Administration ended
- Administration began
- 2013-07-05
- Administrators
- Nigel Price, John Anthony Lowe
- Administrators' firm
- Begbies Traynor
- Formerly
- Paddock & Cross Accident Repairs Limited; JVC Services Limited
- Incorporated
- 2005-03-31
- Location
- Leicester
- Industry
- 45200 Maintenance and repair of motor vehicles
Why it went into administration
- Creditor pressure / legal action
- Sustained trading losses
From the administrators' statement
The following company history has been provided by the Directors
The Company was incorporated in 2005 and initially traded from premises at London Street, Smethwick, West Midlands The Company provided motor accident repairs to insurance, fleet, public and accident management companies and a similar business was purchased in December 2009 to increase turnover This coincided with a Compulsory Purchase Order that was imminent for the purchase of the land and buildings Negotiations had been ongoing with the local authority and their representatives, Bruton Knowles The proceeds of the sale of the land and buildings went direct to the property owner However, any disturbance & relocation costs, would be attributed to Paddock & Cross Accident Repairs Limited
Relocation plans were in place, which included alteration costs so further funding was required for the move to leasehold premises in Great Barr The move included the purchase of new spray booths, compressors and a dust extraction system which cost in excess of £500,000, including the cost of the business, as a management buy out took place at this time
Administrators' statement of proposals (2013-09-05) · Companies House register