Winterhill Receivables and ABL Services Limited (08529356): administration and why it failed

Winterhill Receivables and ABL Services Limited (08529356): administration

Status: Administration ended
Administration began: 2016-02-26
Administrators: Graham Paul Bushby, Lindsey J Cooper, Christopher Ratten
Administrators' firm: RSM
Formerly: Winterhill Audit ID Limited
Incorporated: 2013-05-15
Location: Manchester
Industry: 74909 Other professional, scientific and technical activities n.e.c.

Why it went into administration

Funding withdrawn / unable to refinance
Creditor pressure / legal action
Sustained trading losses
Management failings / irregularities
Competition / price pressure

From the administrators' statement

Relevant extracts from the Company’s audited financial statements are summarised below

Profit and Loss Account

Turnover Cost of Sales

Administrators' statement of proposals (2016-05-04) · Companies House register

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Balance sheet: assets, liabilities, working capital and net assets
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Winterhill Receivables and ABL Services Limited (08529356): administration

Why it went into administration

From the administrators' statement

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Winterhill Receivables and ABL Services Limited (08529356)