SB2009 Limited (06935206): administration
- Status
- Administration ended
- Administration began
- 2012-06-27
- Formerly
- Standish Bathrooms Limited
- Incorporated
- 2009-06-16
- Location
- Manchester
- Industry
- 5248
Why it went into administration
- Cash flow / liquidity pressure
- HMRC / tax arrears
- Sustained trading losses
From the administrators' statement
The company was incorporated on 16 June, 2009 under the tenure of Stuart Martin ("the current director"), John Byrne, John O'Loughlin and James Mutchon (“the former directors'") The main purpose of the company was to provide bathroom fixtures and fittings for both trade and retail customers
Each of the founding directors’ invested £15,000 in the intial set-up and used these funds to purchase items of stock from a local bathroom showroom which had ceased to trade The directors’ resolved to sell these items in a ‘clearance sale’ for the purpose of generating cash flow and reinvesting this in their showroom The showroom was completely refurbished and was opened to the public in November
Throughout 2009 and early 2010, growth was slow, however this had been anticipated and was tn line with the industry norm Turnover steadily increased from circa 26k (per month} in January 2010 to 58k in June 2010 Turnover for the year ending 30 June 2010 was £369,612 Following a review of the company's statutory accounts the board of directors’ resolved, by requisite majority, that steps should be taken to boost turnover
Administrators' statement of proposals (2012-07-17) · Companies House register