D&A Recruitment Ltd (07986314): administration
- Status
- Administration ended
- Administration began
- 2023-08-01
- Administrators
- Anthony John Wright, Alastair Massey
- Administrators' firm
- FRP Advisory
- Incorporated
- 2012-03-12
- Location
- London
- Industry
- 78109 Other activities of employment placement agencies
Why it went into administration
- Sustained trading losses
- Funding withdrawn / unable to refinance
From the administrators' statement
The Company was incorporated on 12 March 2012 and operated as a recruitment agency primarily from its premises located at Unit B, South Cambridge Business Park, Sawston, Cambridge, CB22 3JH. The Company specialised in engaging and placing temporary and agency workers across various industries, including transportation and labour supply.
On 23 May 2022, the Company entered into a debt purchase agreement with Novuna to improve its short-term cash flow requirements. Under the terms of this agreement, Novuna registered fixed and floating charge security over the assets of the Company on 30 June 2022.
The Company entered into various hire purchase agreements for motor vehicles at a significant cost to the Company. It is understood that some of these vehicles were used by the director and the Company’s employees, but it is also apparent some were used by associates of the director, at a cost to the Company and with no clear commercial rationale.
Administrators' statement of proposals (2023-10-02) · Companies House register