Manchester Road Development One Limited (09972721): administration
- Status
- Administration ended
- Administration began
- 2020-10-21
- Administrators
- Robert Alexander Henry Maxwell, Richard Kenworthy
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2016-01-27
- Location
- Leeds
- Industry
- 68100 Buying and selling of own real estate
From the administrators' statement
The Company was incorporated on 27 January 2016 to acquire and develop Land at Park Road, Bradford and Land and Buildings on the North Side of Park Road, Bradford from a previous insolvency.
The Company borrowed significant sums from Thincats Loan Syndicates Limited (‘Thincats”) and Moneything (Security Trustee) Limited (“Moneything”). Unfortunately, the planned development of the land did not materialise and the Company was receiving no income with which to meet its ongoing secured liabilities. As such, Thincats therefore appointed Nick Blackwell and Richard Durkin of Lambert Smith Hampton receivers over the land on 10 September 2020.
As a result of the above, the Company sought advice from Begbies Traynor (Central) LLP (“BT”) in September 2020 in respect of the Company's financial position. The advice received culminated in the directors’ instruction of BT to assist with the formalities of placing the Company into administration.
Administrators' statement of proposals (2020-12-17) · Companies House register