Carlton Forest Group Holdings Limited (12159431): administration
- Status
- Administration ended
- Administration began
- 2024-03-28
- Administrators
- James Ronald Lumb, Howard Smith
- Administrators' firm
- Interpath Advisory
- Incorporated
- 2019-08-16
- Location
- Leeds
- Industry
- 64209 Activities of other holding companies n.e.c.
Why it went into administration
- Funding withdrawn / unable to refinance
- Creditor pressure / legal action
- Loss of a key customer, supplier or contract
- Sustained trading losses
- Parent or group failure
From the administrators' statement
At the end of 2023, Carlton Forest 3PL lost a large contract with its major customer, which resulted in a significant reduction in revenue and a material deterioration in the Group’s working capital.
In addition, investments in wider Group projects were significant, with the forecast revenue from these projects not meeting expectation. This resulted in a funding requirement for the Group.
Management initiated a turnaround plan, which involved bringing Group assets to the market for sale and implementing material cost reductions.
Administrators' statement of proposals (2024-06-04) · Companies House register