Abacus Personnel Limited (07638984): administration
- Status
- Administration ended
- Administration began
- 2012-05-28
- Administrators
- Paul Robert Boyle, David Michael Clements
- Administrators' firm
- Harrisons Business Recovery and Insolvency
- Incorporated
- 2011-05-18
- Location
- Reading
Why it went into administration
- Cash flow / liquidity pressure
- Funding withdrawn / unable to refinance
- HMRC / tax arrears
- Competition / price pressure
From the administrators' statement
The Company was incorporated on 18 May 2011 by Stephen White CSW’) who advised that this was for the purpose of purchasing the business of Abacus Employment Limited CAEL’) Following the appointment of administrators over AEL, the Company purchased the business and assets of AEL and continued trading
The Company traded from 2 Vendion Way, Erith, Kent DA18 4AL throughout the duration of its operations and bank facilities were provided by HSBC Bank plc
The Director has stated that it became apparent soon after the Company's incorporation that tts profit margins were lower than anticipated and which resulted cashflow difficulties The Company soon fell behind with VAT and PAYE payments, and a monthly time to pay arrangement was entered into with HM Revenue and Customs
Administrators' statement of proposals (2012-07-24) · Companies House register