Aldwych Developments Limited (09349612): administration
- Status
- Administration ended
- Administration began
- 2016-07-08
- Administrators
- Paul Steven Cooper, Paul Robert Appleton
- Administrators' firm
- FRP Advisory
- Formerly
- Friars 706 Limited
- Incorporated
- 2014-12-10
- Location
- Fakenham
- Industry
- 41100 Development of building projects
Why it went into administration
- Funding withdrawn / unable to refinance
- Creditor pressure / legal action
From the administrators' statement
In view of the difficulties facing the Company, Kerth Piggott decided to seek independent professional advice, and on 30 June 2015 attended a meeting at the offices of Lawrence Stephens with Adrian Ring and myself
The Company’s financial affairs were discussed and I requested further financial information over the course of the following week
Once the information had been reviewed, it became apparent that without a further injection of working capital, the Company would be unable to discharge its ongoing financial obligations, particularly those due to the creditors that had issued Statutory Demands The Company was, therefore, insolvent on both a Balance Sheet basis and on a Cash Flow basis
Administrators' statement of proposals (2016-09-01) · Companies House register