Star Cottage Bakery Limited (07937929): administration
- Status
- Administration ended
- Administration began
- 2012-12-31
- Administrators
- Julie Ann Swan, Mark Richard Phillips, Solomon Cohen
- Administrators' firm
- Partnership Invoice Finance
- Incorporated
- 2012-02-06
- Location
- Newcastle upon Tyne
Why it went into administration
- HMRC / tax arrears
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- Sustained trading losses
- Credit insurance / supplier credit withdrawn
From the administrators' statement
The Company was incorporated on 6 February 2012 with the intention of forming small independent bakery
At the time, Messrs South, Thompson and Pearson were employed by Hobson Foods Limited (“HF”), trading as Tindale and Stanton, a company in which they had no interest other than being employed by the company HF had itself purchased the trade and assets of a previous company trading as Tindale and Stanton.
tn June 2012, Administrators were appointed over HF. The Administrators traded for a short period whilst attempting to find a buyer for the business. As the June quarter date approached it appeared that no third party was likely to come forward At that stage, the Administrators approached Messrs South, Thompson and Pearson to identify whether they were interested in complete a management buyout. It was apparent at that stage that HF had no future if no buyer was found before the quarter date.
Administrators' statement of proposals (2013-03-08) · Companies House register