Total Tyre Care Ltd (06465558): administration
- Status
- Administration ended
- Administration began
- 2011-11-18
- Incorporated
- 2008-01-07
- Location
- Cheltenham
- Industry
- 5020
Why it went into administration
- HMRC / tax arrears
- Energy costs
- Creditor pressure / legal action
- Loss of a key customer, supplier or contract
- Sustained trading losses
- Credit insurance / supplier credit withdrawn
- Competition / price pressure
From the administrators' statement
The company was formed on 7 January 2008 but remained dormant until after the demise of A5 Commercial Services Limited (“A5”)
The company commenced trading following the liquidation of A5 Payment for the assets was agreed on a deferred consideration after a period of negotiation with the liquidator Prior to reaching agreement for the purchase of the assets the company used the assets for trading under a licence agreed with the liquidator
Inttial trading was funded by factoring the company’s book debts with Bibby Bibby were granted a debenture by the company In July 2010 and trading commenced in August 2010
Administrators' statement of proposals (2011-12-15) · Companies House register