Co UK Realisations 2014 Limited (07189936): administration
- Status
- Administration ended
- Administration began
- 2014-01-02
- Formerly
- Cleaning Operations UK Limited
- Incorporated
- 2010-03-16
- Location
- Salisbury
- Industry
- 81299 Other cleaning services
Why it went into administration
- Loss of a key customer, supplier or contract
- HMRC / tax arrears
- Bad debts / customer insolvency
- Cash flow / liquidity pressure
- Creditor pressure / legal action
From the administrators' statement
Hume as sole director and shareholder in March 2010 and commenced trading in Apml 2010. Mr Hume incorporated the Company as he saw the opportunity to fill a void in the cleaning sector left open when "Cleaning Matters 2 US Limited" (a former company owned by Luzia Holloway was placed into liquidation), Luzia Holloway has in excess of 20 years experience within the cleaning industry, having worked in America and Europe but had experienced some difficult times with her own cleaning business and was not in a position to start up her own company. Mr Hume had hoped to build on the former success of Luzia Holloway by taking the opportunity to be introduced to her previous clients such as Apple Inc and Kier Construction; and to utilise her skills and experience as a key employee
When the Company started trading in 2010, it had little capital investment. Mr Hume was not in a position to fund the business and hoped that it would become self-funding in a short period of time. Although factoring was an option the costs associated with factoring the invoices of such good paying clients led Mr Hume to conclude the Company could struggle through its opening months.
The first two years of trading for the Company transpired to be very difficult. One of the Company's major clients was placed into Administration and the Company not only lost turnover but also suffered a large bad debt at a time when every penny counted. It was only as a result of the pure determination and loyal suppliers and customers that the Company had been able to survive and now looked like tt would become profitable in the 2013 — 2014 financial year.
Administrators' statement of proposals (2014-02-28) · Companies House register