Northern Plastics Limited (05523001): administration
- Status
- Administration ended
- Administration began
- 2014-02-03
- Administrators' firm
- Begbies Traynor
- Formerly
- Northern Plastics GRP Limited
- Incorporated
- 2005-07-29
- Location
- Chester
- Industry
- 82990 Other business support service activities n.e.c.
Why it went into administration
- HMRC / tax arrears
- Property / lease costs
- Sustained trading losses
From the administrators' statement
The Company entered a Voluntary Arrangement on 18 April 2013, prior to the acquisition of its holding company by 1878 and the appointment of Mr O’Hare as director The Supervisors are Andrew MacKenzie and Robert Maxwell of Begbies Traynor Group, Leeds The Administrator has had no involvement in that CVA The Administrator has been informed that the CVA has been terminated by the Supervisors with effect on 3 February 2014
The Company had high levels of histonc debt, having made significant trading losses prior to the CVA Both customers and suppliers proved reluctant to deal with the Company In a CVA and the Company continued to make losses The Company was unable to secure the further working capital essential for on-going trading
» Admuustrator's Statement of Proposals Northern Plastics Ltd
Administrators' statement of proposals (2014-04-16) · Companies House register