HK Foods Ltd (07845105): administration
- Status
- Administration ended
- Administration began
- 2017-04-07
- Administrators
- Mark Malone, Gareth Prince, Lloyd Christopher Biscoe
- Administrators' firm
- Begbies Traynor
- Formerly
- Euroasia Wholesale Limited
- Incorporated
- 2011-11-11
- Location
- Birmingham
- Industry
- 46320 Wholesale of meat and meat products
Why it went into administration
- Competition / price pressure
From the administrators' statement
We have requested a statement of the Company’s history from the director but to date we have not received such a statement and generally we have very little information at this stage about the Company's affairs.
From the information available to us at this stage we can confirm the following. The business was engaged in the processing of poultry, stripping and de-boning to produce Halal standard poultry products for end customers.
The business was financed through a loan from Barclays Bank pic and a confidential invoice discounting arrangement with Barclays Sales Finance. As a result of a recent audit we understand that the Bank was unable to satisfactorily verify part of the sales ledger and therefore funding was restricted until such time as the ledger could be fully verified.
Administrators' statement of proposals (2017-06-12) · Companies House register