Frontier Distribution Limited (07458295): administration
- Status
- Administration ended
- Administration began
- 2014-08-11
- Incorporated
- 2010-12-02
- Location
- Cheltenham
- Industry
- 46180 Agents specialised in the sale of other particular products
Why it went into administration
- Loss of a key customer, supplier or contract
- Competition / price pressure
- Supply chain disruption
- Bad debts / customer insolvency
- Cash flow / liquidity pressure
From the administrators' statement
The Company was incorporated on 2 December 2010 Statutory information on the Company 's included within Appendix 1
The mitial shareholder was Christopher Gennard, who held 100 ordinary shares The company was set up by Mr Gennard at the request of David Cox in order to faciitate various new business opportuntttes after Mr Cox had become disiflusioned with the plastics industry However it soon became apparent to Mr Cox that the demand for his services In the field would lead to a viable business in its own right Mr Gennard was retained as a part time financial director, and two excolleagues, Nicholas Round and Mark White were also appointed as a commercial director and operations director, respectively The shares were transferred to David Cox, Nicholas Round and Mark White, who held 45, 45 and 10 shares, respectively At commencement it was not possible to obtain a bank loan and the shareholders also had insufficient funds to invest Due to the nature of the business and the payment terms with its suppliers and customers it was decided that the most viable option would be to fund the business through an invoice factonng agreement with Bibby Financial Services Limited (‘Bibby’) This was set up in January 2011
The Company was set up to operate predominantly within the plastics industry, supplying and distributing a new line of plastic and glass sheet to the UK POS and street furniture markets At the time of commencement, the directors, who had combined knowledge and experience within the industry of over 50 years, were aware that there were a number of suppliers, particularly from overseas, that were seeking to increase their market share within the UK without incurring significant capital outlay
Administrators' statement of proposals (2014-09-30) · Companies House register