Blooming Gardens Limited (06638350): administration
- Status
- Administration ended
- Administration began
- 2011-04-04
- Administrators
- Mark Elijah Thomas Bowen
- Administrators' firm
- PwC
- Incorporated
- 2008-07-04
- Location
- Birmingham
- Industry
- 9305
Why it went into administration
- Funding withdrawn / unable to refinance
- Loss of a key customer, supplier or contract
- Competition / price pressure
- Cash flow / liquidity pressure
- Over-expansion / investment not recovered
From the administrators' statement
Dave Pnce and Phil Marsh Formed the company in 2005 With 50 % share holding each Dave Pnce previously ran and owned a small gardens business Phil Marsh at the time of formation owned a cleaning company which employed 45 people CCA Ltd
Dave Pnee carned out gaidening contracts for blocks of apartments and his customer base wanted to know if he could carry out the cleaning as well as gardening, therefore both carned out services at the same sites This was unproductive as both of sent members of stafl to the same sites, thus anew company was formed Phil Marsh sold his cleaning company and Dave gave his contracts to Maypole contracts
The Company started very small with only one van so little capital was needed in the first instance HSBC was used for banking requirements, and as the company grew the overdraft was increased from 30K to SOK After a penod , part of this was converted into a loan and was to be repaid over 4 years with the overdraft facility reduced to 15K
Administrators' statement of proposals (2011-05-18) · Companies House register