# One Year Limited (06772345)

> Why UK company 06772345 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/06772345

- **Status:** Administration ended
- **Administration began:** 2011-12-08
- **Administrators:** Daniel Francis Butters, Adrian Peter Berry, Neville Barry Khan
- **Administrators' firm:** Deloitte
- **Formerly:** Second & Third Limited
- **Incorporated:** 2008-12-12
- **Location:** Leeds
- **Industry:** 7487

## Why it went into administration

- Weather / natural events

## From the administrators' statement

The Group faced a downturn in trading as a result of the current difficult economic trading conditions This was exacerbated by the unseasonably mild weather in the weeks leading up to the appointment of the Joint Administrators meaning sales of winter stock lines (traditionally generating higher margins) fell short of forecast, resulting in significantly lower cash generation

The Directors sought advice from Cavendish to investigate the possibility of disposing of part of the business for value In October/November 2011, Cavendish were engaged to perform an accelerated merger and acquisition process which examined the disposal of the Priceless business A number of interested parties were contacted by Cavendish and were provided with information on the Priceless business However, the Companies’ cash flow position worsened during November, ultimately impacting the Companies’ ability to pay Its creditors as and when they fell due

Based on professional advice, the Directors of the Companies concluded that, given the circumstances, the Administration of the Companies was the best option

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/06772345/filing-history/MzA1MTM1NTkxMmFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/06772345

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