Leeds Recycling Limited (08167883): administration
- Status
- Administration ended
- Administration began
- 2014-09-22
- Administrators
- Howard Smith, Jonathan Charles Marston
- Administrators' firm
- KPMG
- Formerly
- Permittedby Limited
- Incorporated
- 2012-08-03
- Location
- Leeds
- Industry
- 38210 Treatment and disposal of non-hazardous waste
Why it went into administration
- Sustained trading losses
- Cash flow / liquidity pressure
From the administrators' statement
The Company was incorporated on 3 August 2012 as Permittedby Limited, subsequently changing its name on 10 April 2013 to Leeds Recycling Limited
The Company was formed as a vehicle to purchase the business and assets of LPR The business plan was for the Company to operate as a collection arm for a waste treatment facility operated by Diversion, an associated company through common shareholder and directorship, which operated from the same site as the Company at Sheffield Road, Templeborough, Rotherham The Company commenced trading in April 2013
The strategy for the Company was to gradually move the core collection area away from North and West Yorkshire, which had higher operational costs and increased travelling costs and focus more on the local collections in South Yorkshire to supply more contracted waste to the waste treatment facility operated by Diversion As It was a supply arm, the business model for the Company was for it to operate on a break-even basis
Administrators' statement of proposals (2014-11-28) · Companies House register