Alan Kirkham Limited (06522784): administration
- Status
- Administration ended
- Administration began
- 2016-08-25
- Administrators
- Stephen James Wainwright, Allan Christopher Cadman
- Administrators' firm
- Xeinadin
- Formerly
- Kirkham Hall Limited
- Incorporated
- 2008-03-04
- Location
- Bishopsgate
- Industry
- 82990 Other business support service activities n.e.c.
Why it went into administration
- Cash flow / liquidity pressure
- Creditor pressure / legal action
- Competition / price pressure
From the administrators' statement
Alan Kirkham Limited was incorporated on 4 March 2008 but remained dormant until July 2013 The Company has traded as a medium sized estate agent in the North East Manchester area Prior to the Company commencing to trade, the Director, Mr Alan Kirkham, has traded as a sole proprietor but was advised by his accountants to incorporate the business for reasons of tax efficiencies
The Director reports that the property market suffered during the widely reported credit crunch However, the market began to improve from 2010 onwards In April 2014, the reforms introduced under the Governments’ mortgage market review came into effect which effectively restricted mortgage lending and whilst the measures were aimed principally at cooling the South East market, it also had a depressive effect on the slowly recovering North West market
To compound matters, in recent years the area in which the Company operates has winessed a substantial Increase In small start-up competitors as well as internet firms offering cheaper fee structures albeit with a lower standard of service These factors have had a detrimental effect upon the Company's trading position
Administrators' statement of proposals (2016-10-04) · Companies House register