Lovatt Transport & Warehousing Limited (11837405): administration
- Status
- Administration ended
- Administration began
- 2022-08-02
- Administrators
- Richard Cole, Steve Kenny
- Administrators' firm
- KBL Advisory
- Incorporated
- 2019-02-20
- Location
- Sale
- Industry
- 49410 Freight transport by road
Why it went into administration
- COVID-19
- Property / lease costs
From the administrators' statement
KBL Advisory Limited was first approached by Bibby on 12 July 2022 following which their representatives met with the directors of the Company on 13 July 2022. KBL Advisory Limited assisted management with the preparation of short term trading cash flow forecasts. During that meeting it became clear that the Company was insolvent on a balance sheet and a cashflow basis.
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 2 August 2022, Richard Cole and Steve Kenny of KBL Advisory Limited were appointed Joint Administrators of the Company by Bibby in their capacity as the qualifying floating charge holder.
Administrators' statement of proposals (2022-09-30) · Companies House register