Brit Auto Centres Limited (07577339): administration
- Status
- Administration ended
- Administration began
- 2015-01-30
- Administrators
- Robert David Adamson, Tim Alan Askham
- Administrators' firm
- Mazars
- Formerly
- Industrial Tyres (Hull) Limited
- Incorporated
- 2011-03-24
- Location
- Leeds
- Industry
- 45320 Retail trade of motor vehicle parts and accessories
Why it went into administration
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
From the administrators' statement
The Company was incorporated on 24 March 2011, trading as an MOT Centre in Hull, specialising in MOT testing and repairs The main source of work was gained from advertising on local radio and from retail customers
The Company was initially funded by the Directors and an invoice finance facility with SME
Losses were made in 2012 and 2013, and these coupled with additional pressures on cash flow, meant that the Company's cash position was reduced
Administrators' statement of proposals (2015-04-23) · Companies House register