HBS Residential Limited (SC248918): administration
- Status
- Administration ended
- Administration began
- 2014-06-04
- Administrators
- Brian William Milne, Eileen Blackburn
- Administrators' firm
- Quantuma
- Formerly
- Dalglen (No. 876) Limited
- Incorporated
- 2003-05-07
- Location
- Glasgow
- Industry
- 68209 Other letting and operating of own or leased real estate
From the administrators' statement
As noted above, detailed discussions with the Director regarding the reasons for the Company's insolvency have not yet taken place. However, from investigations to date, it has been established that the insolvency of the Company was largely due to the following factors: . Economic slowdown due to general economic climate, resulting in a reduction in the value of the residential property owned by the Company; and An inability to secure tenants for Company owned property resulting in an inability to service the secured borrowings over those properties.
Administrators' statement of proposals (2014-07-28) · Companies House register