Manchester Commercials Limited (07295150): administration
- Status
- Administration ended
- Administration began
- 2013-11-27
- Administrators' firm
- Begbies Traynor
- Formerly
- THG Vehicle Solutions Limited
- Incorporated
- 2010-06-24
- Location
- Preston
- Industry
- 45200 Maintenance and repair of motor vehicles
Why it went into administration
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- Loss of a key customer, supplier or contract
- Property / lease costs
- Sustained trading losses
- Parent or group failure
From the administrators' statement
The Company was incorporated in 2010 as THG Vehicle Solutions Limited and acquired the business, assets and goodwill of an insolvent company, The Hulme Group Limited A potential investor, Leyland Holding Company Limited ("LHC"), had been identified to fund the acquisition, who saw the business as a perfect addition to services already provided by other subsidiary companies (“Group”)
The sale completed on 10 December 2010 and all the staff transferred Group appointed Paul Kirkman as a Director of the Company, with Angela and Stephen Hulme (Directors and Shareholder of The Hulme Group Limited) retained as managing directors to continue running the day to day business Leyland Investments (UK) Limited ("LIUK’), a wholly owned subsidiary of LHC acquired a majority shareholding
The Company continued operations from the trading premises at Warren Road, Trafford Park, Manchester under a licence granted by The Hulme Group Limited — in Administration In 2011, the Company entered into a short term lease for 2 years whilst other options could be considered The Directors had recognised the need for larger premises and began looking for alternative sites
Administrators' statement of proposals (2014-01-24) · Companies House register