Ecos Property Limited (SC275332): administration
- Status
- Administration ended
- Administration began
- 2012-11-29
- Administrators
- Paul Dounis, Kenneth W Pattullo
- Administrators' firm
- Begbies Traynor
- Incorporated
- 2004-10-29
- Location
- Glasgow
- Industry
- 68209 Other letting and operating of own or leased real estate
From the administrators' statement
The company was formed in 2004 by Naranjan Singh and Parmajit Kaur, who were directors and shareholders.
The principal trade of the business was that of a trading property business. During the trading period the company acquired a portfolio, consisting of commercial and residential properties, with the purpose of then sourcing tenants to occupy the properties.
Despite having several leases in place, the company suffered cash flow issues in recent years. The directors therfore consistently failed to meet the bank’s capital and interest repayments on the company loans and could not reduce the bank’s exposure to an acceptable level.
Administrators' statement of proposals (2013-03-07) · Companies House register