City Quays Limited (07054835): administration
- Status
- Administration ended
- Administration began
- 2014-02-17
- Incorporated
- 2009-10-23
- Location
- Milton Keynes
- Industry
- 68310 Real estate agencies
Why it went into administration
- Management failings / irregularities
- HMRC / tax arrears
- Property / lease costs
From the administrators' statement
City Quays Limited was incorporated tn October 2009 as an estate agency It was established to provide agency services in conjunction with City Net Limited, an established letting and property management business then owned and managed by Peter To The intention was that Mr To and his partner, Ms Yuet Ching Tang would operate the Company as a separate venture, seeking to enjoy synergies with the existing businesses The Company operated from premises at 193 Lower Road, Surrey Quays, London,
The business operated with apparent success, however it became apparent during 2011 that the Company’s finances were not as strong as expected and an investigation to allegations of the misappropriation of funds by Ms Tang
Following this, Ms Tang left the business and resigned her directorship in February 2012 The business and personal relationships between Mr To and Ms Tang became acrimonious and solicitors were Instructed The matter of the financial and accounting issues will now be considered by the Joint Administrators and additional comment ts provided within this report
Administrators' statement of proposals (2014-04-24) · Companies House register