Ness (York) Limited (SC373192): administration
- Status
- Administration ended
- Administration began
- 2017-01-23
- Administrators
- James Bernard Stephen, William Matthew Tait
- Administrators' firm
- BDO
- Incorporated
- 2010-02-17
- Location
- Edinburgh
- Industry
- 99999 Dormant Company
Why it went into administration
- Property / lease costs
From the administrators' statement
2.1 The Company was incorporated on 17 February 2010 and its registered office was 19 Silvermills Court, Henderson Place Lane, Edinburgh, EH3 5DG. It is a non-trading company 100% owned by Ness (Clothing) Limited (“Clothing”).
2.2 The Company is lessee for retail premises in York (the “York Premises”) and has no other commercial interests. Clothing runs a “Ness” branded shop from the York Premises, with rent and other relevant costs accounted for through inter-company trading.
2.3 Funding facilities provided to the Clothing and other group companies are secured by cross corporate guarantees and floating charges provided by all group companies, including Ness (York) Limited. Clydesdale Bank pic (the “Bank”), the first ranking secured creditor, issued the Company with a demand for payment of the total amounts owed, which the Company was unable to satisfy. As no payment was received by the deadline, the secured creditor moved to place the Company into Administration.
Administrators' statement of proposals (2017-03-20) · Companies House register