Silk Road Tyres (UK) International Ltd (09116562): administration
- Status
- Administration ended
- Administration began
- 2019-03-13
- Administrators
- Philip Lewis Armstrong, Geoffrey Paul Rowley
- Administrators' firm
- FRP Advisory
- Incorporated
- 2014-07-04
- Location
- London
- Industry
- 45310 Wholesale trade of motor vehicle parts and accessories
Why it went into administration
- HMRC / tax arrears
- Creditor pressure / legal action
From the administrators' statement
The Company was incorporated 4 July 2014 and traded as a wholesaler of (predominately car) budget tyres imported from China. The business was based out of two units 7-9 Forties, Tame Vailey Industrial Estate, Wilnecote, Tamworth, B77 5DG. Whilst the majority of their customers were garages and tyre fitting centres, they also wholesaled to other UK operators.
Although the Company held banking facilities with HSBC Bank PLC and Barclays Bank PLC, its main trading facility was provided by Siemens by way of an invoice finance facility. Their security is a debenture over the assets of the Company dated 27 July 2018 pursuant to an Invoice Finance Agreement of the same date.
Administrators' statement of proposals (2019-05-30) · Companies House register