3RD Germination Limited (08409747): administration
- Status
- Administration ended
- Administration began
- 2017-09-22
- Incorporated
- 2013-02-19
- Location
- Hull
- Industry
- 47760 Retail sale of flowers, plants, seeds, fertilizers, pet animals and pet food in specialised stores
Why it went into administration
- Funding withdrawn / unable to refinance
From the administrators' statement
The Company was incorporated in February 2013 by its shareholders and directors Mr Lewis Taylor, Mrs Daphne Taylor, Mr Richard Taylor and Mrs Faye Taylor (“the Directors”). The Company purchased the property at Hirst Road Goole in January 2014 and began trading as Seedlings Garden Centre in February 2014. The Company ran a garden centre including an eatery, small animal enclosures and a children’s play park, with all directors living on site.
The purchase of the property was facilitated partly by a shareholder loan from Daphne and Lewis Taylor. There remains a balance on this account of £300,010. A mortgage in favour of Santander UK Pic was also granted against the property.
Initially, the business was managed primarily by Richard and Faye Taylor. Daphne and Lewis Taylor worked part time within the business. In 2015 the working relationship between the four directors became untenable and Richard and Faye Taylor left the business and moved away. Daphne and Lewis Taylor began working in the Company full time and have managed the business since August 2015.
Administrators' statement of proposals (2017-11-24) · Companies House register