Cashmac LLP (OC344202): administration
- Status
- Administration ended
- Administration began
- 2014-08-18
- Administrators' firm
- Smart Insolvency Solutions
- Incorporated
- 2009-03-20
- Location
- Worcester
Why it went into administration
- Weak consumer demand
From the administrators' statement
The Company was incorporated as a Limited Liability Partnership in August 2009 in order to operate a franchise of single Cash Converters store to be based in Worcester Keith Woodford and hene Donna Mackenzie were appointed Designated Members (‘the Members’)
Ms Mackenzie’s background was tn the retail trade where she had had considerable experience tn senior managerial positions Mr Woodford had in recent years operated a sole proprictor bustness, whereby he identified and procured premises across the UK suitable for other Cash Converters stores It was Mr Woodford who identified what the Members considered to be an ideal site for the Worcester store, with tts proximity to the railway and bus stations lkely to tead to a high footfall
The company enjoyed some financial success over its trading lifetime, but tt did not meet the Members expectations In particular, they considered that the initial capital introduced was insufficient and thus they were required to inject further personal funds in order to maintain an adequate cash-flow
Administrators' statement of proposals (2014-10-21) · Companies House register