Sweet Estate Agency Limited (07465596): administration
- Status
- Administration ended
- Administration began
- 2015-04-10
- Incorporated
- 2010-12-09
- Location
- South Kensington
- Industry
- 68310 Real estate agencies
Why it went into administration
- Creditor pressure / legal action
- Sustained trading losses
- Competition / price pressure
From the administrators' statement
The Company was incorporated in December 2010 and immediately commenced to trade as residential estate agents from rented accommodation in Rochester, where the directors were also operating a residential letting agency
The original directors were Richard Duncan Sweet and his wife, Susan Helen Sweet
Trading was not successful due to a deflated property market and the intense local competition that reduced sales commissions In the absence of revenue reserves and the inability of the directors to introduce proprietary capital, the Company relied upon unsecured loans advanced by an associated company, Sweet Lettings Limited, to meet its expenses
Administrators' statement of proposals (2015-06-12) · Companies House register