Avonmouth Village Pharmacy Limited (06204450): administration
- Status
- Administration ended
- Administration began
- 2011-05-04
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2007-04-05
- Location
- Exeter
- Industry
- 5231
Why it went into administration
- Sustained trading losses
From the administrators' statement
The Company was incorporated on 5 Apn! 2007 and has traded as the Willand Pharmacy from April 2008 from tts trading premises at Linacre, Gables Road, Willand, Cullompton EX15 2PL
The Company was funded by its bank, NatWest Bank Pic, (“NatWest”) which provided a loan facility to purchase the pharmacy The freehold property ts held in the names of the directors Geoffrey Trueman, the practising pharmacist and Joanne Grant An informal lease was entered into and the pharmacy traded from the premises from Apri 2008 Part of the financial purchase of the business was to be £50,000, to be input from the sale of the director’s personal property, which due to the downtum in property value did not materialise
A new large Health Centre was built between Willand and Cullompton, which increased the business considerably for a time, until a large Tesco Superstore was built in Cullompton Tesco’s applied for a 100 hour Pharmacy, which was duly granted This had a very detnmental affect on the trading of the pharmacy as Tesco’s remained open when all other pharmacies were closed
Administrators' statement of proposals (2011-06-16) · Companies House register