Aquados Limited (05719046): administration
- Status
- Administration ended
- Administration began
- 2013-11-28
- Administrators
- Julian Pitts, Nicholas Edward Reed
- Administrators' firm
- Begbies Traynor
- Formerly
- Continental Shelf 369 Limited
- Incorporated
- 2006-02-22
- Location
- Leeds
- Industry
- 32990 Other manufacturing n.e.c.
Why it went into administration
- Creditor pressure / legal action
- Property / lease costs
- Funding withdrawn / unable to refinance
- HMRC / tax arrears
- Loss of a key customer, supplier or contract
From the administrators' statement
The Company has manufactured domestic laundry and dishwash products since 2006, seeking primanty to supply the major supermarkets, in addition to direct sales to the public generated from it’s website
Costs of developing the equipment and processes were substantial, leaving the Company recording substantial losses in it's development phase, albeit this was largely funded by equity investments and loans from associated parties
The Company's founding director Gerald Hinton, was required to spend a significant amounts of time away from the business between 2008 and 2011, so having established relationships with key customers, recruited a Manager to run day to day operations during his absence
Administrators' statement of proposals (2014-02-06) · Companies House register