Acrylicsrus Limited (07254220): administration
- Status
- Administration ended
- Administration began
- 2015-03-20
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2010-05-14
- Location
- Manchester
- Industry
- 47910 Retail sale via mail order houses or via Internet
Why it went into administration
- Creditor pressure / legal action
- Cash flow / liquidity pressure
From the administrators' statement
The Company traded as a sheet plastics company focusing primarily on internet sales Customers orders purchased on the internet were cut to order and delivered from the company’s leasehold premises at Broughton Astley in Leicestershire The company had 12 employees and turnover had reached £2 7 million for the year to 31 March 2014
The reasons for the Company's insolvency
The Company began to experience financial difficulties as a consequence of funds being used to improve the leasehold property The lease contained an option to purchase after two years Unfortunately, this impacted on cash flow which meant they were unable to pay their debts as and when they fell due The former director, Daniel Tansley, left in November 2014 with an agreement to pay, under a consultancy agreement to his new company, Exquisite Fabrication
Administrators' statement of proposals (2015-05-22) · Companies House register