SCS Logistics Limited (07656566): administration
- Status
- Administration ended
- Administration began
- 2023-06-21
- Administrators
- Jeremy Nigel Ian Woodside, Carl Stuart Jackson
- Administrators' firm
- Quantuma
- Incorporated
- 2011-06-02
- Location
- Manchester
- Industry
- 49410 Freight transport by road
Why it went into administration
- HMRC / tax arrears
- Creditor pressure / legal action
- Property / lease costs
From the administrators' statement
3.1 Quantuma Advisory Limited were first approached by the Company in January 2023 to provide advice on the Company’s options.
3.2 The Directors advised that the Company was struggling to pay its liabiities as and when they fell due and was struggling to maintain a time to pay agreement with HMRC. The Company had attempted to reduce costs by making redundancies and has also held informal discussions with the landlord of the warehouse to reduce the rental costs. Regrettably the landlord refused to reduce the rent.
3.3 Initially a CVL was proposed, however, following a review of the Company’s financial affairs and subsequent discussions with management, a change in the invoice finance facility together with valuation advice received from LSH it was decided to commence with a pre-pack sale of the business and assets. The engagement letter was signed by the Company on 2 February 2023.
Administrators' statement of proposals (2023-07-05) · Companies House register