Gift-Library.Com Limited (06651133): administration
- Status
- Administration ended
- Administration began
- 2015-02-16
- Administrators' firm
- Insolve Plus
- Incorporated
- 2008-07-21
- Location
- London
- Industry
- 96090 Other service activities n.e.c.
Why it went into administration
- Property / lease costs
From the administrators' statement
The Company was incorporated on 2! July 2008 and immediately commenced trading as an online gift shop
GL operated from leasehold premises at The Coda Centre, Units 23 and 25, 189 Munster Road, London SW6 6AW (‘the Premises”) and paid rent of £11,713 per month
Barclays Bank ple ("Barclays") provided the Company with a current account, which had a credit balance of £7,547 at the date of the Administration and credit cards with a monthly credit limit of £27,500 which had an outstanding balance of £23,582 at the date of The Company was initially funded by family and friends. Further funding of £500,000 was provided by Stonecliffe Rock Ltd ("Stonecliffe") in the form of a loan agreement dated 24 September 2008. Stonecliffe has a debenture incorporating fixed and floating charges, over the assets of the Company, which was created on 24 September 2008 and delivered on 10 October 2008 Originally the loan was due for repayment in 2012, however, the term of the loan was extended unul 3! January 2015
Administrators' statement of proposals (2015-04-16) · Companies House register