Tyre & Autocare Limited (08711743): administration
- Status
- Administration ended
- Administration began
- 2014-01-21
- Administrators
- David Michael Clements, Paul Robert Boyle
- Administrators' firm
- Harrisons Business Recovery and Insolvency
- Incorporated
- 2013-09-30
- Location
- Manchester
Why it went into administration
- Property / lease costs
- Bad debts / customer insolvency
From the administrators' statement
The Company was incorporated on 30 September 2013 with Christopher Howes being appointed Director
The Company was formed as a vehicle to purchase the assets and goodwill of an unconnected Company, Bowman Tyre & Auto Ltd, which entered into Creditors Voluntary Liquidation on 23 October 2013. The Company's principal trading and general activities were fitting tyres on commercial and agricultural vehicles, in addition to fitting exshausts and brakes.
The company operated a bank account with Santander Bank plc from the commencement of trading. It ts understood that there was no overdraft factlity available on the account. In order to assist initial cash flow and release working capital in the book debts the Company entered into an invoice finance agreement with Ultimate Invoice Finance Limited (Ultimate).
Administrators' statement of proposals (2014-03-21) · Companies House register