City Laundry Limited (07921561): administration
- Status
- Administration ended
- Administration began
- 2013-07-24
- Administrators
- Sean Williams, Philip Deyes
- Administrators' firm
- Leonard Curtis
- Incorporated
- 2012-01-24
- Location
- Manchester
- Industry
- 96010 Washing and (dry-)cleaning of textile and fur products
Why it went into administration
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- Energy costs
- Loss of a key customer, supplier or contract
- Bad debts / customer insolvency
- Property / lease costs
- Sustained trading losses
- Competition / price pressure
- Weather / natural events
From the administrators' statement
The Company was incorporated on 24 January 2012 and commenced trading on 1 February 2012, following an acquisition of the trade and assets of Helden Limited for £130k from tts Administrator. The Company traded as a hirer of textiles including table linen, bedding etc to customers including hotels and conference centres The Company was reputedly the largest service provider in the North of the UK for commercial laundry services
Over the last 12 months the company has suffered cash flow problems caused by a number of factors and events, the main ones being as summarised below,
• Over the past 12 months, the Company's stocks of linen had to be replaced as it won contracts with hotel and leisure providers, rather than small local restaurants The new stock cost in the region of c£147k This has been funded from cash flow
Administrators' statement of proposals (2013-09-20) · Companies House register