Space World Limited (06800723): administration
- Status
- Administration ended
- Administration began
- 2014-10-03
- Administrators
- Lila Thomas, David Robert Acland
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2009-01-26
- Location
- Preston
- Industry
- 82990 Other business support service activities n.e.c.
Why it went into administration
- Creditor pressure / legal action
- Cash flow / liquidity pressure
- Sustained trading losses
From the administrators' statement
The Company operates a children’s play centre from leasehold premises at Units 2 & 3 Ropers Court, Sinclair Way, Prescot Business Park, Prescot, L34 1QN The Company began trading in 2009 under the directorship of husband and wife team, Mark and Gillan Baldwin Over recent months, Mrs Baldwin's health has deteriorated resulting in her resignation from the Company in June 2014
The Company's operations have been supported by an overdraft facility granted by The Royal Bank of Scotland ple (‘the Bank”) along with an Enterprise Finance Guarantee ("EFG") Loan for £80,000 which was repayable over a 10 year period
The reasons for the Company’s insolvency The Company began to expenence financial difficulties as a consequence of a general decline in turnover
Administrators' statement of proposals (2014-11-25) · Companies House register