Bionova Recycling Limited (07018693): administration
- Status
- In administration
- Administration began
- 2014-04-10
- Administrators
- Ian Walker, Julie Anne Palmer
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2009-09-15
- Location
- Exeter
- Industry
- 38210 Treatment and disposal of non-hazardous waste
From the administrators' statement
On 21 March 2014 Begbies Traynor's Red Flag Alert Service indentified that a CCJ of £72,341 had been registered against the Company on 18 March 2014 We approached South West Investment Group (Capital) Ltd ("SWIG"), who were registered as the secured creditor to notify them of this adverse credit event Under the instructions of SWIG, we met with the directors of the Company who confirmed that due to lack of cash flow they were unable to fulfil work in progress and as a result they had been seeking investment for several months Although there was interest in the business nothing concrete materialised Consequently, SWIG were concerned that the Company was unable to pay tts debts as and when they fell due and exercised their right to appoint us under paragraph 14 of Schedule B1 of the Insolvency Act 1986 as Joint Administrators
Administrators' statement of proposals (2014-06-02) · Companies House register