The Cabin Company Ltd (05683067): administration
- Status
- Administration ended
- Administration began
- 2013-05-07
- Administrators
- Jeremy Nicholas Bleazard
- Administrators' firm
- XL Business Solutions
- Incorporated
- 2006-01-21
- Location
- Cleckheaton
- Industry
- 31090 Manufacture of other furniture
Why it went into administration
- Bad debts / customer insolvency
- Property / lease costs
- Cash flow / liquidity pressure
- Parent or group failure
From the administrators' statement
21 The Company commenced trading in August 2010, shortly after which the directors were approached by one of its customers Ultimate Services Limited (“Ultimate”), to take over the operations of their Panda Worldwide Limited business (“Panda”), which had began to exceed its area of expertise, growing from an importer of goods from the far east for resale in the United Kingdom, to both this and a manufacturer of fully assembled furniture
22 A proposal was agreed that could have resulted in the merger of the two companies at a later date subject to certain accounting and funding tssues being resolved by Panda In the interim the operation was moved to Rotherham and commenced trading as operational agents At this time an additional 10,000 square foot warehouse was opened
23 It soon became apparent that Panda's bankers were not going to follow through with their earlier offers and consequently, it was concluded that the companies should remain two separate entities with the Company continuing as the manufacturer and Panda as the importer Each company maintained its own customers and sales to them
Administrators' statement of proposals (2013-06-19) · Companies House register