Corners Cars & Commercials Ltd. (08150596): administration
- Status
- Administration ended
- Administration began
- 2019-12-30
- Administrators
- Steve Kenny
- Administrators' firm
- KBL Advisory
- Incorporated
- 2012-07-20
- Location
- Sale
- Industry
- 45200 Maintenance and repair of motor vehicles
Why it went into administration
- HMRC / tax arrears
- Creditor pressure / legal action
- Loss of a key customer, supplier or contract
From the administrators' statement
A Statement of Proposals setting out how the purpose of the Administration is to be achieved will be issued to creditors as soon as reasonably practicable and certainly within eight weeks from the date of our appointment. However, to assist creditors in understanding the affairs of the Company and the reasons for the pre-packaged sale, a brief history is set out below.
The Company was incorporated in July 2012 and traded in the repair of commercial vehicles. Prior to incorporation, the business was operated as a sole trader by Guy Corner commencing in 2005. The business traded from a unit on a relative’s farm located at Low Moor Farm Cottage, Long Ln, Brompton, Northallerton
The Company was initially capitalised through the introduction of personal funds by its sole shareholder, Guy Corner. The Company subsequently funded its operation by obtaining funding via a £15,000 overdraft facility from HSBC Bank pic for which security was granted
Administrators' statement of proposals (2020-01-27) · Companies House register