Aquila Truck Centres (Italia) Limited (08480919): administration
- Status
- Administration ended
- Administration began
- 2018-10-16
- Administrators
- Steven Muncaster, Allan Watson Graham
- Administrators' firm
- Kroll
- Incorporated
- 2013-04-09
- Location
- Manchester
- Industry
- 45111 Sale of new cars and light motor vehicles
Why it went into administration
- HMRC / tax arrears
- Creditor pressure / legal action
- Sustained trading losses
- Cash flow / liquidity pressure
From the administrators' statement
As mentioned above, detailed information in relation to the Company's background and history, the lead up to the Appointment Date and information in relation to the Company’s Sales Transactions of the Company is provided in the SIP 16 Report enclosed at Appendix 9.
In summary, the business has struggled to maintain profitability since 2014 due to a lack of local opportunities in and around Avonmouth, Swindon and Gloucester. Whilst there was an uptake in local sales, sales were insufficient in sustaining a profitable business.
In early 2017 the Company underwent internal operational restructures following the departure of key members of the management team. These issues were subsequently resolved during late 2017, unfortunately to the business’ detriment given the time that had lapsed throughout the year.
Administrators' statement of proposals (2018-11-08) · Companies House register