Miller Metcalfe Surveyors Ltd (11437803): administration
- Status
- Administration ended
- Administration began
- 2020-01-14
- Administrators' firm
- Leonard Curtis
- Incorporated
- 2018-06-28
- Location
- Stockport
- Industry
- 96090 Other service activities n.e.c.
Why it went into administration
- Creditor pressure / legal action
- Competition / price pressure
- Funding withdrawn / unable to refinance
- Sustained trading losses
From the administrators' statement
| have had several meetings (as stated on 13 and 19 December 2019) with the directors in the weeks leading to my appointment in relation to the company’s affairs generally as set out. | had considered my professional bodies ethical guidelines and satisfied myself that there were no factors effecting my objectivity and no conflict of interest arose having had no prior connection with either the company or indeed its’ Directors.
The business was set up in 2018 and acquired certain of the principal assets and Goodwill of a predecessor business, Miller Metcalfe Ltd, a connected company which entered into Administration in August 2018. Mr J R Irving and Mr A Poxon of Leonard Curtis were the appointed Administrators. They had sold the company’s principal business assets and Goodwill for some £40,000 (including Goodwill of £1,000) upon their appointment. | had no involvement with the prior transaction.
The company had a good blend of customers including High Street banks and other “blue-chip” customers to property purchasers. However, during 2019 the effects of the political climate had a direct impact on property sales and this had an impact on the company’s performance. Various options were discussed as set out previously. However, it was considered that a “going-concern” sale of the business assets and Goodwill within a protected Administration process would likely offer the best outcome for creditors. The Directors had carried out a limited marketing campaign to assess interest from direct competitors and obtained “Heads of Agreement” in mid-December 2019.
Administrators' statement of proposals (2020-02-04) · Companies House register