Rush Worldwide Limited (11248785): administration
- Status
- In administration
- Administration began
- 2022-11-30
- Administrators
- Julie Anne Palmer, Andrew Hook
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2018-03-11
- Location
- Salisbury
- Industry
- 49410 Freight transport by road
Why it went into administration
- COVID-19
- Cash flow / liquidity pressure
- HMRC / tax arrears
- Property / lease costs
From the administrators' statement
The Company was incorporated on 11 March 2018 for the purposes of providing ovemight and next day courier services. The Company completed the acquisition of Factorfast Limited which was the holding company for Rush Courier Services Limited in November 2018 for £1.6m. Rush Courier Services Limited entered Administration on 9 December 2019. Note that Julie Palmer and Stephen Powell were the Joint Administrators of Rush Courier Services Ltd and now act as Joint Liquidators of that entity.
The Company was purportedly owed the approximate sum of £169,00 by Rush Courier Services Limited which ranks as an unsecured claim in the liquidation of that insolvency. A dividend is anticipated to be paid to unsecured creditors but the timing and quantum of the same is uncertain.
The Company traded from a leasehold premises at Unit 3, Highway Trading Centre, Sergo Park, Wapping, London, EC1 3HR. However, it is understood that the lease expired prior to the Administration and the Company continued to occupy and trade from the premises whilst new terms were negotiated with the landlord by the Company.
Administrators' statement of proposals (2023-01-30) · Companies House register