Insta Hire Limited (10511117): administration
- Status
- Administration ended
- Administration began
- 2022-04-08
- Administrators
- Richard Cole, Steve Kenny
- Administrators' firm
- KBL Advisory
- Incorporated
- 2016-12-05
- Location
- Sale
- Industry
- 77320 Renting and leasing of construction and civil engineering machinery and equipment
Why it went into administration
- COVID-19
From the administrators' statement
The Company was severely affected by the Coronavirus pandemic which had an adverse effect on the Company’s cashflow and as a result various business loans were obtained to assist with the working capital; however, the Company’s trade did not return to pre covid levels and the Company had no prospect of repaying creditors. KBL Advisory were contacted on the 16 March 2022 after a review of the Company’s financial position and confirmed the insolvent position.
Attached at Appendix III is an account of the work undertaken prior to the Joint Administrators’ appointment and the costs associated with that work.
On 08 April 2022, Richard Cole, and Steve Kenny of KBL Advisory Limited were appointed Joint Administrators of the Company following the filing of a Notice of
Administrators' statement of proposals (2022-06-10) · Companies House register