One Stop Recruitment (Nationwide) Limited (07539415): administration
- Status
- Administration ended
- Administration began
- 2012-07-23
- Administrators' firm
- SC Advisory Services
- Incorporated
- 2011-02-22
- Location
- Derby
- Industry
- 78200 Temporary employment agency activities
Why it went into administration
- HMRC / tax arrears
- Cash flow / liquidity pressure
- Creditor pressure / legal action
- Sustained trading losses
From the administrators' statement
The Company was incorporated on 22"4 February 2011 as a labour recruitment agency under Company number 07539415 The registered office of the Company 1s at Unit 1A Kings Dyke, Wittlesea, PE7 2PA
Prior to becoming the Company’s sole director, Mahmud Hussain gained substantial experience in the labour recruitment sector with two other companies On incorporation, the director obtained verbal contracts with a number of customers to supply labour However, the Company soon encountered creasingly difficult trading conditions The supply of labour began to decrease as the customer base became stagnant, due primarily to the recession The cash flow of the busmess was adversely affected by the slow payment of invoices raised (typically 60 to 90 payment days), which had a detrimental effect on the Company's abihty to meet its weekly wage commitments
The Company was not afforded the benefit of an overdraft faahty and with no additional working capital available, the burden of outstanding debts made on-going trading, with the resultant wage overheads, unmanageable in the short to medium term
Administrators' statement of proposals (2012-08-13) · Companies House register