Propyork Ltd (06750526): administration
- Status
- In administration
- Administration began
- 2025-02-14
- Administrators
- Zane Collins
- Administrators' firm
- Rushtons Insolvency
- Formerly
- Lister Haigh (Yorkshire) Limited; Lister Haigh (Knaresborough) Limited
- Incorporated
- 2008-11-17
- Location
- Saltaire
- Industry
- 68310 Real estate agencies
Why it went into administration
- Cash flow / liquidity pressure
From the administrators' statement
As previously stated in the above Proposals Report, in December 2024 the Company had agreed, in principle to the sale of its business and assets to Dacres. However, between Christmas 2024 and into the start of 2025 concerns were raised by the majority shareholder / Director who was offered a consultancy agreement and the terms around the proposed consultancy. Therefore, the sale to Dacres became frustrated and did not conclude.
The Company had exhausted its available cash resources and its cash constraints were impacting on its ability to continue trading.
The Company's shareholders and Bank confirmed that they were not able to provide the level of additional funding necessary to support the Company to trade, therefore this option was not available, the Bank would be reliant upon personal guarantees from the Company's Directors, however the Directors were not in a position to provide these guarantees.
Administrators' statement of proposals (2025-03-04) · Companies House register