Hamptons Manufacturing Limited (07372861): administration
- Status
- Administration ended
- Administration began
- 2011-06-15
- Administrators
- Terry Evans, Lee De'Ath
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2010-09-10
- Location
- Reading
Why it went into administration
- Creditor pressure / legal action
- Competition / price pressure
From the administrators' statement
Hamptons was sncorporated on 10 September 2010 as a furniture manufacturer, the Company operated from premises located at Roman Way, Crusader Park, Warminster, Wiltshire, BA12 8SJ (“the property”)
Hamptons purchased the business and certain assets of Pinetum Limited — In Liquidation (‘Pinetum”) as a going concern in September 2010 from the then Joint Administrators The total consideration for this sale was £60,000 plus 2% of turnover tn the first 12 months in relation to goodwill A debenture in favour of Pinetum was registered as security for this consideration Pinetum has since moved from Administration to Creditors’ Voluntary Liquidation on 23 February 2011
As part of the sale agreement, the employees of Pinetum transferred under TUPE to Hamptons The purchase from Pinetum was funded by private means, as well as an invoice discounting facility from Bibby Financial Services Limited (“Bibby”)
Administrators' statement of proposals (2011-08-17) · Companies House register