Tough Times Ltd (06989100): administration
- Status
- Administration ended
- Administration began
- 2013-07-31
- Administrators
- John Edmund Paylor
- Administrators' firm
- Guardian Business Recovery
- Incorporated
- 2009-08-12
- Location
- London
- Industry
- 64999 Financial intermediation not elsewhere classified
From the administrators' statement
The Company was formed in 2009 Mr Gus Antony Cadore (also known as Angus Cadore} and Mr Ravi Nath Tey are currently the directors and shareholders of the Company Of the share capital of 100 shares of £1 each, the latest annual! return dated 12 August 2012 shows Mr Cadore held 40 shares and Mr Tey: held the remaining 60 shares There ts no company secretary
The Company’s trading activities were lending, buybacks, short term loans and buying and selling of new and used items including jewellery and motor vehicles, under the trading style “Loans 4 Logbooks UK” It held a Consumer Credit Licence no 632866/5 It operated from two shops, 108-112 London Road, Reading RG1 5AY and 532 Uxbridge Road, Hayes UB4 OSA which were both occupied under leases My enquiries into the terms and obligations under the leases are ongoing The Company ceased trading on my appointment and both shops have now been vacated
The Company was financed by short term lending from MWM and it granted security over all its assets under debenture created on 1 August 2012 and registered on 4 August 2012 The total advance made to the Company was £150,000 The Company failed to meet its repayment obligations and therefore found itself in default of the loan agreement At the time of my appointment, £266,000 was outstanding under the loan agreement
Administrators' statement of proposals (2013-10-03) · Companies House register