Greener Skip Hire & Recycling Ltd (06392183): administration
- Status
- Administration ended
- Administration began
- 2011-05-04
- Administrators
- Kenneth William Touhey, Richard Howard Toone
- Administrators' firm
- RSM
- Incorporated
- 2007-10-08
- Location
- Newport
- Industry
- 3710
Why it went into administration
- Funding withdrawn / unable to refinance
- Creditor pressure / legal action
- Sustained trading losses
- Competition / price pressure
From the administrators' statement
The Company was incorporated on 8 October 2007 providing skip hire, and recycling of metal waste services
| understand that the Company secured funding from NatWest Bank Plc (“NatWest”) and an invotce discounting facility with RBS Invoice Finance Limited (“RBSIF’) both secured against the Company’s assets
The Company's unaudited abbreviated accounts show that for the years ending 31 March 2009 and 2010, the Company reported losses of £191,305 and £338,800 respectively It appears that due to the poor trading performance of the Company, RSM Tenon (“Tenon”) were instructed by RBSIF to undertake a business review of the Company in March 2011
Administrators' statement of proposals (2011-07-05) · Companies House register