USK Garden Centre Limited (07428808): administration
- Status
- Administration ended
- Administration began
- 2016-06-01
- Administrators' firm
- Begbies Traynor
- Formerly
- Morris's of USK Properties Limited
- Incorporated
- 2010-11-03
- Location
- Cardiff
- Industry
- 01300 Plant propagation
Why it went into administration
- Creditor pressure / legal action
- Sustained trading losses
From the administrators' statement
The Company was incorporated on 3 November 2010 and traded under a verbal licence with the landlord, Morris's of Usk (Properties) Limited, a connected company, at The Nurseries, Llanbadoc, Usk, NP15 1TG as a garden centre
The business had traded successfully for a number of years pnor to incorporation by Christopher Morris, and who transferred the business to his daughters, Kate James and Anna Jones, immediately upon incorporation
In 2015 the Company began to experience financial difficulties as a consequence of reduced sales and high overheads but had continued trading due to the financial support from the directors and other connected companies The Company went through a significant capital expenditure programme in 2013/2014, building a steel framed metal clad potting shed, purchasing a fully automated greenhouse and biomass boiler, all funded by Morris's of Usk Limited, a connected company However, the Company failed to meet its payment obligations and in absence of terms to the contrary, the outstanding balance of £234,932 was repayable on
Administrators' statement of proposals (2016-06-20) · Companies House register