Tyneside Autobuy Limited (07417350): administration
- Status
- Administration ended
- Administration began
- 2020-01-31
- Administrators
- Steven Muncaster, Benjamin John Wiles
- Administrators' firm
- Kroll
- Incorporated
- 2010-10-25
- Location
- Manchester
- Industry
- 45112 Sale of used cars and light motor vehicles
Why it went into administration
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- Sustained trading losses
- Regulatory change or action
From the administrators' statement
Statutory information on the Company and a summary of Its financiai history is included at Appendix 4
The Company traded as a second hand car dealership, operating from the Property The Property is owned by Autoparc, which ts the majority shareholder of the Company, and ts also connected by virtue of a common directorship Historically, the Property had been rented to several independent dealerships, who had each occupied a portion of the site
The Company was incorporated on 25 October 2010 The Directors had experienced a downtum in rental income under Autopare, following a number of tenants ceasing to trade due to financial difficulties attnbuted to the poor economic chmate within the United Kingdom
Administrators' statement of proposals (2014-09-05) · Companies House register