Logical Resources Recruitment Group Limited (05432101): administration
- Status
- Administration ended
- Administration began
- 2014-04-15
- Administrators' firm
- Leonard Curtis
- Formerly
- Logical Resources Executive Search Ltd.; Yorkshirejobsite Limited
- Incorporated
- 2005-04-21
- Location
- Manchester
- Industry
- 78200 Temporary employment agency activities
Why it went into administration
- HMRC / tax arrears
- Creditor pressure / legal action
- Loss of a key customer, supplier or contract
From the administrators' statement
The Company was incorporated by Robert Cariton and Gillian Dumigan in 2005 to provide temporary and permanent labour to a variety of sectors including manufacturing, construction, B2B support services, retail, fashion textiles, telecoms and IT services
In order to fund the working capital requirements, the Company entered into an invoice financing facility in July 2010, provided by Aldermore Bank Plc (“Aldermore”) The Company had also been funded by way of a loan and banking facilities with National Westminster Bank Plc who were later replaced with Santander UK Plc (‘Santander’) who were owed c£45k in respect of a loan at the date of the Administrators’ appointment
In 2010, lan Thornley joined as an investor / finance director, providing c£80k of working capital The Company also acquired the business of More Employment Limited, from its Administrators dunng the same period
Administrators' statement of proposals (2014-05-30) · Companies House register