Sitr UK Ltd (05817640): administration
- Status
- Administration ended
- Administration began
- 2014-12-15
- Administrators
- John Malcolm Titley, Andrew Poxon
- Administrators' firm
- Leonard Curtis
- Formerly
- Tyrecycle (UK) Ltd
- Incorporated
- 2006-05-15
- Location
- Manchester
- Industry
- 38110 Collection of non-hazardous waste
Why it went into administration
- HMRC / tax arrears
- Cash flow / liquidity pressure
- Creditor pressure / legal action
- Funding withdrawn / unable to refinance
- Sustained trading losses
- Competition / price pressure
From the administrators' statement
The Company was Incorporated in May 2006 as Tyrecycle (UK) Limtted and changed ts name to SITR UK Ltd on 14 October 2008 For the penod from incorporation to 31 May 2012 the Company remained dormant The current director is Anthony Mayes, who has been a director since incorporation Damian Hitchen was also appointed a director on 23 August 2012 however recently resigned as a director on 3 November 2014 The shareholders are Anthony Mayes, Laura Mayes, Damian Hitchen and Martin Reilly
The Company specialises in on site document destruction and recycling of electronic equipment The Company operated from leasehold premises at Unit 1 Cotton Farm, Middlewich Road, Holmes Chapel, Crewe CW4 7ET The Company employed 32 staff
The Company was funded by way of an invoice finance facility with Bibby Financial Services Limited (‘Bibby’) who hold secunty by way of a debenture, incorporating a fixed and floating charge, over the Company assets and created on 28 June 2012
Administrators' statement of proposals (2015-01-29) · Companies House register