Evcl Three Ltd (12414481): administration
- Status
- Administration ended
- Administration began
- 2021-09-24
- Administrators
- Edward Williams, David Matthew Hammond, Helen Laura Wheeler-Jones
- Administrators' firm
- PwC
- Incorporated
- 2020-01-20
- Location
- Leeds
- Industry
- 49410 Freight transport by road
Why it went into administration
- Funding withdrawn / unable to refinance
- Loss of a key customer, supplier or contract
- Sustained trading losses
From the administrators' statement
The Companies were incorporated in December 2019 and January 2020. They are part of a Wider Group of companies whose ultimate holding company is EV Cargo Holdings Limited and whose other operations remain trading and not subject to insolvency proceedings. The Companies operated primarily in the chilled food logistics market, storing and delivering products for a number of retail customers and suppliers to the UK food retail market. EVCL acquired the majority of the business and assets out of the administration of Distribution Realisations 2020 Limited (formerly NFT Distribution Operations Limited) on 31 January 2020.
Funding for the Companies was provided from the Wider Group and by way of a CID facility provided by Investec. As noted above, the Investec facility was acquired by Azaleos Finance Limited in the days leading up to the administration appointments.
The Companies were a leading provider of time critical, temperature controlled distribution and warehousing to retailers, food manufacturers and distributors across three main trading operations: Retail (EVCL1); Transport (EVCL2); and Warehouse (EVCL3). EVCL provided head-office and other support functions across the Companies.
Administrators' statement of proposals (2021-11-15) · Companies House register