Your Environmental Company Ltd (07717486): administration
- Status
- Administration ended
- Administration began
- 2024-07-29
- Administrators
- Franklyn Ofonagoro, Ian Mcculloch
- Administrators' firm
- Opus Restructuring
- Incorporated
- 2011-07-25
- Location
- Milton Keynes
- Industry
- 39000 Remediation activities and other waste management services
Why it went into administration
- Creditor pressure / legal action
- Parent or group failure
From the administrators' statement
Whilst some operating improvements have been made, the Company is not making sufficient profit and cash to service its debt and pay its overheads and outstanding liabilities
as and when they fall due and therefore the Company is both balance sheet and cash flow insolvent based on its financial position as per the Company’s records.
Due to the acute cash position the Company had a number of pressing creditors, three of which issued statutory demands. As outlined above the Company was not in a position to settle any of the demands and was the catalyst for the directors to seek further professional advice with regards to its financial position.
Administrators' statement of proposals (2024-09-20) · Companies House register