Kiddy Childrens Products UK Limited (08139477): administration
- Status
- Administration ended
- Administration began
- 2019-03-18
- Administrators
- David Nicholas Clark
- Administrators' firm
- Clark Business Recovery
- Incorporated
- 2012-07-11
- Location
- Leeds
- Industry
- 46760 Wholesale of other intermediate products
Why it went into administration
- Parent or group failure
From the administrators' statement
The Company has continued to be supported financially by Holding Company and currently has an outstanding balance of approximately £1.54m owed to Holding Company. This debt has arisen as a result of intercompany loans being provided to the Company in the form of stock advancements by Holding Company on credit, and Holding Company has reached the point where no further stock can be provided on this basis.
As a result, the Company was not able to meet future orders and was not able to meet its liabilities as and when they fell due.
In light of the inability to obtain further financial support from Holding Company, and the ongoing uncertainty regarding the Company’s ability to continue to trade, the Director held discussions with the Company's accountant regarding the Company's current financial position and to determine the best course of action going forward. 3.4
Administrators' statement of proposals (2019-05-23) · Companies House register