Bodymaster Accident Repair Centre Limited (05559552): administration
- Status
- Administration ended
- Administration began
- 2011-07-20
- Administrators
- Craig Povey, Richard Howard Toone
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2005-09-09
- Location
- London
- Industry
- 7487
Why it went into administration
- Cash flow / liquidity pressure
- Competition / price pressure
From the administrators' statement
The Company was incorporated on 9 September 2005 and traded as a vehicle accident repair centre
The Company was funded from an overdraft/loan facility with Lloyds TSB Bank PLC and laterly by invoice discounting by Ultimate Finance Ltd (“Ultimate”) Previous to that, invoice discounting was provided by Lloyds TSB Commercial Finance Ltd Lloyds TSB Bank PLC, Lloyds TSB Commercial Finance Ltd and Ultimate have debentures incorporating fixed and floating charges, all of which remain unsatisfied at the date of administration
Chantrey Vellacott DFK had no prior involvment with the Company until 14 July 2011 when Ultimate requested my firms assistance to review the circumstances surrounding the Company, as it appeared to be in financial difficulty
Administrators' statement of proposals (2011-09-16) · Companies House register