Tile & Flooring Centre Limited (06605813): administration
- Status
- Administration ended
- Administration began
- 2023-06-12
- Administrators' firm
- Begbies Traynor
- Formerly
- Tile and Flooring Centre Limited
- Incorporated
- 2008-05-29
- Location
- Bath
- Industry
- 43330 Floor and wall covering
Why it went into administration
- HMRC / tax arrears
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- Creditor pressure / legal action
- Sustained trading losses
From the administrators' statement
Our proposals for achieving the purpose of the administration provide detailed information in relation to the Company. The following background information is provided to assist creditors who may have limited knowledge of the Company and its affairs to better understand the reasons for the pre-packaged sale.
The Company retailed and installed a range of interiors and building materials to both members of the public and trade professionals in the property industry. Whilst it was incorporated in 2008, it has been trading for 50 years and earned a good reputation and substantial client base over that time period. The Company currently trades from premises in Central Bath with 8 employees including the 2 directors.
In 2019, Tile & Floor managed a large contractor on a signature £1m contract to supply and install a range of interiors within the city of Bath. This contract proved to be loss making for not only the Company but all other businesses involved on the project. The financial impact on the Company, in addition to the lost time spent on the contract, meant that the directors needed to refinance the business to improve cash flow and provide the means to return Tile & Floor to profitability.
Administrators' statement of proposals (2023-06-28) · Companies House register