TG Flaunden Ltd (09481966): administration
- Status
- Administration ended
- Administration began
- 2017-09-04
- Administrators
- Simon Robert Thomas, Arron Simon Kendall
- Administrators' firm
- Moorfields
- Formerly
- Relic Flaunden Limited
- Incorporated
- 2015-03-10
- Location
- London
- Industry
- 41202 Construction of domestic buildings
Why it went into administration
- Funding withdrawn / unable to refinance
- Creditor pressure / legal action
From the administrators' statement
« The Company had purchased the Property for £1.65m. This was achieved by agreeing a deferred payment of £200k with the vendor, secured by way of a legal charge over the Property.
« The Company also obtained a development loan from Lendinvest which is secured by way of a debenture.
• Soon after construction commenced, the Company began to suffer from a lack of cash which meant that construction at the Property subsequently ceased in July 2017.
Administrators' statement of proposals (2017-11-08) · Companies House register