Dancorp Limited (05776630): administration
- Status
- Administration ended
- Administration began
- 2011-04-05
- Formerly
- Redwood Health Limited; Redwood Building Services Limited
- Incorporated
- 2006-04-10
- Location
- Chatham
- Industry
- 7450
Why it went into administration
- Cash flow / liquidity pressure
- HMRC / tax arrears
- Creditor pressure / legal action
- Bad debts / customer insolvency
From the administrators' statement
Dancorp Limited (Formerly Redwood Health Limited), was incorporated on 10 April 2006, tn the name of Redwood Building Services Limited and subsequently changed i's name to Redwood Health Limited on 16 May 2009 The business was built up around two nursing recruitment businesses which were long-established and wellknown One of the businesses supplied temporary nurses predominantly in the London area and the other supplied resource to the South Wales market
In 2010, the business of Redwood Health Limited was sold to Medical Technical Limited (“MTL”) and the obligations under that sale contract were guaranteed by the ultimate holding company of MTL, Healthcare Locums ple (HCL) The total consideration for the sale was stated to be £6,650,000 of which £5 million was paid
as an initial consideration The balance of the consideration was stated to be paid by an “earn-out arrangement”
Administrators' statement of proposals (2011-06-09) · Companies House register