Propcom Limited (07780785): administration
- Status
- Administration ended
- Administration began
- 2020-06-03
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2011-09-20
- Location
- Bath
- Industry
- 68209 Other letting and operating of own or leased real estate
Why it went into administration
- COVID-19
- Property / lease costs
- Sustained trading losses
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- Creditor pressure / legal action
From the administrators' statement
Our proposals for achieving the purpose of the administration provide detailed information in relation to the Company. The following background information is provided to assist creditors wno may have limited knowledge of the Company and its. affairs to better understand the reasons for the prepackaged sale.
The Company was incorporated on 20 September 2011 as’a vehicle for holding the JS Sainsburys (‘Sainburys’) leases for the various dental practices of a connected company Centre For Dentistry Limited (“CFD”). It then sublet the trading premises to CFD. The Company also leased and purchased
__ all of the dental equipment, furniture and fit out costs for the benefit of CFD to legally re recover VAT where possible. Initially it and CFD traded from 5 dental practices.
Administrators' statement of proposals (2020-06-19) · Companies House register