Parrco Limited (07637099): administration
- Status
- Administration ended
- Administration began
- 2014-03-14
- Administrators
- Jason Dean Greenhalgh, Paul Stanley
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2011-05-17
- Location
- Southport
- Industry
- 41100 Development of building projects
Why it went into administration
- Property / lease costs
- Sustained trading losses
From the administrators' statement
The Company was incorporated on 17 May 2011, and shortly thereafter acquired a partly constructed 66 bed care home site in Parr, St Helens The site included 6 substantially completed bungalows located adjacent to the care home The funding for the acquisition was provided by investors including further momes to fund the early building completion works
In order to provide further funding towards the build costs, the care home was pre sold by the Company to individual investors on a room by room basis, with the investors to receive the rent paid by the eventual operators The bungalows were sold to third parties
The building works were completed in mid 2013 and the care home is now fully operational under the control of a third party operator
Administrators' statement of proposals (2014-05-13) · Companies House register