Rutland Lodge Pharmacy Limited (07206867): administration
- Status
- Administration ended
- Administration began
- 2012-12-21
- Incorporated
- 2010-03-29
- Location
- Manchester
- Industry
- 47730 Dispensing chemist in specialised stores
Why it went into administration
- Creditor pressure / legal action
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- Credit insurance / supplier credit withdrawn
- Parent or group failure
From the administrators' statement
2.1 The Companies operated as pharmacies in Leeds and Bradford Each pharmacy operated as a separate legal entity but banked as one group
22 At the beginning of 2012, the Group was suffering cash flow problems and began having difficulties making payments to suppliers on time. This impacted on the Group’s ability to source supplies and therefore fulfil customer prescriptions and related contracts
23 Asa result, in April 2012 Zolfo Cooper LLP (ZC) was engaged to undertake a short-term cashflow review, a review of the Group’s creditor position and to ascertain whether the Group had any immedhate funding requirement This indicated that the Group would exceed its overdraft facility
Administrators' statement of proposals (2013-01-17) · Companies House register