From the administrators' statement

The pnncipal trading activity of the Company was that of an electrical wholesaler The Company was incorporated on 23 March 2007 and commenced to trade immediately The Company was set up by director and majority shareholder, Mr Adnan Childs Mr Childs had previously worked for an electrical wholesaler and, after leaving his employer in 2004, set up as a sole trader He incorporated his business in order to afford the protection of a limited company

The Company latterly traded from leasehold premises at Unit F7, Greenwood Ind Estate, Cartmell Drive, Shrewsbury, SY13PB The leasehold premises were held in Mr Childs’ personal name with rent being paid of c£24,000 pa

The Company was funded principally via an Invoice Finance agreement, which it entered into with Lloyds TSB Commercial Finance Limited (“LTSBCF"} in September 2007

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Wholesale Direct (GB) Limited (06180307)

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