M & M Tyres Ltd (10050326): administration
- Status
- Administration ended
- Administration began
- 2021-03-18
- Administrators
- Andrew Howard Beckingham, Siann Huntley
- Administrators' firm
- Leonard Curtis
- Incorporated
- 2016-03-08
- Location
- Cardiff
- Industry
- 45320 Retail trade of motor vehicle parts and accessories
Why it went into administration
- COVID-19
- Cash flow / liquidity pressure
From the administrators' statement
The Company was incorporated on 8 March 2016 to take on the sole trader business of Andrew Nolan which had been trading as M & M Tyres since April 2007 as a retail seller and fitter of light commercial and car tyres.
It is understood that an initial investment into the Company was taken from the sole tradership which was taxed on the director's personal tax return and was therefore classified as a director's loan upon start up. The Company also secured overdraft and commercial credit card facilities with Barclays Bank plc shortly following incorporation.
The Company operated from leasehold premises in Caerphilly and employed some 7 members of staff.
Administrators' statement of proposals (2021-05-01) · Companies House register