ST Andrews Bakers Ltd (SC416072): administration
- Status
- Administration ended
- Administration began
- 2014-02-21
- Incorporated
- 2012-02-02
- Location
- Edinburgh
- Industry
- 10710 Manufacture of bread; manufacture of fresh pastry goods and cakes
Why it went into administration
- Funding withdrawn / unable to refinance
- Loss of a key customer, supplier or contract
From the administrators' statement
The Company was incorporated on 2 February 2012 and was a provider of bakery products to both large supermarket chains and to smaller providers within Scotland.
The Company acquired the business of Kingdom Bakers Limited (In Administrative Receivership) from the office holder on 10 February 2012 and believed that over a period of time it could increase both market share and productivity and it also anticipated that it could attract turnover of at least £5M from the former customers of Kingdom Bakers Ltd.
However, the management introduced to the Company were unable to obtain more than £3.5M of such business and did so with high labour costs on products that were probably not the most profitable. Significant finance and loans were obtained by the Company during 2012 in order to assist its cashflow.
Administrators' statement of proposals (2014-04-17) · Companies House register