Modus Estates (Maidens) Limited (SC302977): administration
- Status
- Administration ended
- Administration began
- 2015-03-31
- Administrators
- David Hunter, Derek Forsyth
- Administrators' firm
- Azets
- Formerly
- Modus Estates (Maple Park) Limited; Modus Estates (Troon) Limited
- Incorporated
- 2006-05-25
- Location
- Renfrew
- Industry
- 68209 Other letting and operating of own or leased real estate
Why it went into administration
- Cash flow / liquidity pressure
From the administrators' statement
The Company was incorporated on 25 May 2006 as Modus Estates (Troon) Limited under Company number SC302977. The Company changed its name to Modus Estates (Maple Park) Limited on 22 December 2006 and then to it’s current name Modus Estates (Maybole) Limited on 19 June 2007.
The registered office of the Company was 11 Ashley Street, Glasgow, G3 6DR, which is leased. The principal activity of the Company was the development of residential property. At the date of administration, the Company’s assets comprised of a residential cottage in Maidens.
The former director has attributed the cause of insolvency of the Company to the economic downturn, which although prevalent across all market sectors, has been more manifested within many small towns where demand levels for properties have noticeably reduced.
Administrators' statement of proposals (2015-05-29) · Companies House register