Mill Transport (Yorkshire) Limited (07277077): administration
- Status
- Administration ended
- Administration began
- 2016-03-14
- Administrators
- Geoffrey Paul Rowley, John Anthony Lowe
- Administrators' firm
- FRP Advisory
- Formerly
- Gallfly Limited
- Incorporated
- 2010-06-08
- Location
- Nottingham
- Industry
- 49410 Freight transport by road
Why it went into administration
- Cash flow / liquidity pressure
- Creditor pressure / legal action
- Sustained trading losses
From the administrators' statement
‘The Company was returning losses due to a reduction in turnover and was unable to pay debts as they fell due within current banking facilities.
The director could not reasonably believe that the Company was able to turn around performance and explored a sale of the business and external investment to prevent formal insolvency.
Discussion took place with potential interested parties and investors but these proved unsuccessful
Administrators' statement of proposals (2016-05-17) · Companies House register