Epilogue Clothing Limited (06907443): administration
- Status
- Administration ended
- Administration began
- 2011-10-12
- Administrators
- Darren Edwards
- Administrators' firm
- CMB Partners
- Incorporated
- 2009-05-15
- Location
- Upminster
- Industry
- 7487
Why it went into administration
- Creditor pressure / legal action
From the administrators' statement
Although the Company was incorporated in May 2009, it was effectively a dormant entity until 15 July 2011, at which juncture it purchased the business and assets from the Administrator of Frostskip for £275,000 by way of a Sale and Purchase Agreement (“SPA”)
Following completion of the above sale, initial consideration of £200,000 was paid to the Administrators of Frostskip on 17 July 2011. The balance of deferred consideration, being £75,000, was to be patd on or before 14 September 2011. Furthermore, the Company provided an indemnity to the Administrators of Frostskip in respect of any loss suffered by the Admunstrators of Frostskip as a consequence of any breach of the SPA by the Company.
Included within the sale was all outstanding Sales Ledger Balances, thus on completion of the SPA, the Company entered into a Factoring Agreement with Bibby to enable sufficient available funding to complete the initial payment referred to above.
Administrators' statement of proposals (2011-12-07) · Companies House register