Teoni's Limited (05972327): administration
- Status
- Administration ended
- Administration began
- 2020-01-06
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2006-10-19
- Location
- Exeter
- Industry
- 10720 Manufacture of rusks and biscuits; manufacture of preserved pastry goods and cakes
Why it went into administration
- Competition / price pressure
From the administrators' statement
The Company was incorporated on 19 October 2006 and commenced trading in 2007 to produce high-end biscuits.
lan Payne oversaw production and Teoni Payne dealt with the Company finances and administration. Following sustained growth it purchased industrial units at 5 & 6 Blackdown Park, Willand funded by a loan from Lloyds Bank plc , and moved there in 2014.
The Company utilised an invoice discounting facility with Lloyds Commercial Finance ple together with an overdraft from Lloyds Bank pic. Turnover continued to increase and the Company traded profitably until the summer of 2019, when the Directors suffered an irretrievable breakdown of their marriage and this began to
Administrators' statement of proposals (2020-03-03) · Companies House register