This site uses cookies; by continuing to use our site you agree to our use of cookies. More details in our privacy policy. Close

 

 

SFP handed enforcement firm administration 3 April 2013

An enforcement firm used by Bromley council to issue littering fines has gone into administration.

XFOR Local Authority Support Limited went into administration in March, with Simon Plant and Daniel Plant of SFP Group (SFP) appointed to handle the case.

Local press reports suggest the company has been sold to Kingdom Security but SFP, Kingdom Security and the XFOR media team would not comment.

However it is thought the firm, which also provides parking enforcement and security services, has maintained its contract with Bromley Council.

It comes just three months after the company purchased a separate firm which was in administration and used to trade as XFOR Local Authority Support Limited.

Aqua LAS Limited, which was run by Steven Gillespie, went into administration on 4 January 2013 having changed its name from XFOR Local Authority Support Limited the previous month.

The business and assets of Aqua LAS Limited were then bought by XFOR Limited on 8 January for £17,000, underwritten with a personal guarantee from Gary Lincoln-Hope, an XFOR director.

XFOR Limited then changed its name to XFOR Local Authority Support Limited, informing Companies House of this on 17 January 2013.

Lincoln-Hope remains listed as a director of XFOR Local Authority Support Limited, but Gillespie’s directorship was terminated on Companies House in January.

Both remain listed as chief executive and chief operations officer on the XFOR Group website.

At the time of the transaction, which was also handled by SFP, Aqua LAS Limited owed creditors £83,550.

When approached for comment, an SFP representative said the firm had not authorised any information to be released to the press.

According to SFP’s administration report, Aqua LAS Limited ran into cashflow difficulties in 2012 as government austerity cuts impacted on demand for local authority support services.

Aqua LAS Limited had an invoice discounting facility in place with First Capital Factors, which registered a fixed and floating charge on the company in 2010.

First Capital Factors had outstanding commitments of £67,573 with Aqua LAS Limited at the time of the administration, and is now collecting the sales ledger, valued at around £60,312.

It is not yet clear if First Capital Factors has a creditor stake in XFOR Local Authority Support Limited, formerly XFOR Limited.

By Alex Cardno

See also:

 

 

blog comments powered by Disqus