Hudson Shribman Scientific Limited (08140823): administration
- Status
- Administration ended
- Administration began
- 2014-04-17
- Administrators
- Debi Harvey
- Administrators' firm
- Harveys Insolvency & Turnaround
- Formerly
- ST. John's No. 5 Limited
- Incorporated
- 2012-07-12
- Location
- Newbury
- Industry
- 82990 Other business support service activities n.e.c.
Why it went into administration
- Cash flow / liquidity pressure
- Funding withdrawn / unable to refinance
From the administrators' statement
In August 2012 the Company acquired the assets, subject to exclusions, of HSSL Realisations Limited, company number 03589671, from its administrators for the sum of £25,000 All employees of HSSL were transferred subject to the provisions of TUPER
The Company immediately commenced trading in the supply of candidates for permanent and temporary positions to former clients of HSSL, from rented offices as detailed by section 3 earlier, with the intention to build on that foundation. Funding was obtained by way of a factoring agreement with Positive Cashflow Finance Limited (‘Positive’) who secured its position with a fixed and floating charge debenture. Bank facilities were provided by Lloyds Bank plc.
Administrators' statement of proposals (2014-05-07) · Companies House register