Franklyn Recruitment Limited (06164492): administration
- Status
- Administration ended
- Administration began
- 2014-02-03
- Administrators' firm
- Leonard Curtis
- Incorporated
- 2007-03-15
- Location
- Birmingham
- Industry
- 78200 Temporary employment agency activities
Why it went into administration
- HMRC / tax arrears
- Bad debts / customer insolvency
- Funding withdrawn / unable to refinance
- Loss of a key customer, supplier or contract
From the administrators' statement
The Company was incorporated in 2007 and started trading in April 2010 as a provider of recruitment solutions for the construction and engineenng sectors Itoperated from leasehold premises in WestonSuper-Mare and employed 27 people, including three directors
Shortly after trading commenced, the Company purchased part of the business and assets of an insolvent company from tts administrators This added a small IT team to the Company's portfolio as well as strengthening the existing engineenng team It also purchased a 30% share in Stavanger Contracting & Engineering AS (‘SCE’), a Norwegian company
Following the deal, SCE’s invoices were assigned to the Company and financed through Lloyds TSB Commercial Finance Limited (‘LTSBCF')
Administrators' statement of proposals (2014-03-17) · Companies House register