Hill Cannon (UK) Limited (06850487): administration
- Status
- Administration ended
- Administration began
- 2011-09-08
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2009-03-18
- Location
- Leeds
- Industry
- 4521
Why it went into administration
- Loss of a key customer, supplier or contract
- Competition / price pressure
- Cash flow / liquidity pressure
- HMRC / tax arrears
- Sustained trading losses
From the administrators' statement
Hill Cannon (UK) Limited (‘HCUK’) (‘the Company’) was incorporated on 18 March 2009 The purpose of formation was to incorporate the building consultancy business known as ‘Hill Cannon LLP’ that had formerly traded as a partnership since 1967 The ‘Hill Cannon’ brand had subsequently acquired a long standing reputation for its bespoke construction consultancy sermces The Company operated from leasehold premises located in the central Harrogate area, providing facilities for all its specialist consultants
Banking facilites were provided by National Westminster Bank Plc (‘NatWest’) (‘the Bank’), who provided an initial overdraft service of £150,000, secured by a debenture created on 1 June 2009, granting a fixed & floating charge over the entire assets and undertakings of the Company The Bank subsequently provided two Business Loans to the Company, amounting to £21,137 and £6,663 as at the date of appointment and two credit cards, with balances of £1,926 and £500 respectively The overdraft indebtedness stood at £114,801 as at the date of Administration Both Directors pledged personal guarantees to support the facility
HCUK built up a strong reputation in the local, national, European, Asian and Far Eastern markets, its repute earning the Company a customer base of property agents, developers, housing associations, local authorities and private chents The Company focused on its specialist consultancy service covering all aspects of car park design With unparalleled knowledge and expertise tn the field of car park design, the Company had commissioned over 1000 models in a wide sphere of countries
Administrators' statement of proposals (2011-11-21) · Companies House register