Pralong Limited (07610944): administration
- Status
- Administration ended
- Administration began
- 2016-09-21
- Administrators' firm
- KPMG
- Incorporated
- 2011-04-20
- Location
- Reading
- Industry
- 82990 Other business support service activities n.e.c.
Why it went into administration
- Parent or group failure
- Property / lease costs
- Sustained trading losses
- Regulatory change or action
From the administrators' statement
The Company was incorporated on 20 April 2011 and operated the Group's New & Used Vehicle Honda dealership at Basingstoke employing 23 people
3.2. Funding and financial position of the Company
The Company was primarily funded by an overdraft facility with Lloyds Bank PLC The majority of the vehicles were funded by credit provided by Honda Finance Limited, Black Horse Limited and other third party funders
Administrators' statement of proposals (2016-11-24) · Companies House register