# GR@ND Limited (06565740)

> Why UK company 06565740 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/06565740

- **Status:** Administration ended
- **Administration began:** 2013-05-10
- **Administrators:** Bethan Louise Evans, John Dean Cullen
- **Administrators' firm:** Menzies
- **Incorporated:** 2008-04-15
- **Location:** Cardiff
- **Industry:** 47110 Retail sale in non-specialised stores with food, beverages or tobacco predominating

## Why it went into administration

- Cash flow / liquidity pressure

## From the administrators' statement

The Company was incorporated on 15 April 2008 It previously operated two stores, the first store opened in January 2009 tn Gilfach Goch This shop faced cash flow problems almost immediately after it opened due to a lack of working capital The Company found itself in a position where it was unable to meet the monthly suppler payments, which lead to a backlog of payments with their suppliers

The suppliers eventually placed the account on stop due to the backlog and requested that the Company pay monthly instalments to reduce the outstanding balance on account and any new deliveries required upfront payment The Company struggled to afford the upfront payments, so in order to continue to trade, the directors had no other option but to fund the monthly expenditure of stock themselves

A second store in Griffithstown became available in 2009, whtch the directors saw as a good opportunity for the Company The directors signed the lease for the trading premises in November of that year

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/06565740/filing-history/MzA4MTUyOTAzOGFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/06565740

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.