Property business enters administration after collapse of tenant

by Rachael Singh

More from this author

03 Sep 2012

  • Comments
Paul Stanley

BEGBIES TRAYNOR administrators have been called to listed property business All Points North.

Paul Stanley (pictured) and Kenneth Pattullo have been appointed joint-administrators to All Points North. The company has a range of properties including commercial and residential in its portfolio.

The company ran into trouble when two of its tenants became insolvent last year, as Kendal Carpet Warehouse and College House Furness PC left All Points North with outstanding rental payments.

It announced turnover reduced to £151,450 compared to £163,429 for the same period a year before in its December unaudited interim results for the six months ended 30 September.

Three months later in March, the company suspended shares pending clarification of its financial position. All Points North said it was in discussions with its lender Clydesdale Bank, which wanted full repayment of its £5.1m loan to be made by 30 April.

All Points North hoped to dispose of several properties to repay that debt.

However, in May the bank agreed to extend the repayment period to 30 September.

Unfortunately, the company announced in August its bankers had "withdrawn their support", and the business was unable to continue trading as a going concern.

Visitor comments

blog comments powered by Disqus

Add your comment

We won't publish your address

By submitting a comment you agree to abide by our Terms & Conditions

Your comment will be moderated before publication

  • Send

Charterhouse Accountants

Finance Officer

Charterhouse Accountants, Beaconsfield, Permanent, Full Time, £ Competitive




Get the latest financial news sent directly to your inbox

  • Best Practice
  • Business
  • Daily Newsletter
  • Essentials


Search for jobs
Click to search our database of all the latest accountancy roles

Create a profile
Click to set up your profile and let the best recruiters find you

Jobs by email
Sign up to receive regular updates with the latest roles suitable for you



Why budgeting fails: One management system is not enough

If budgeting is to have any value at all, it needs a radical overhaul. In today's dynamic marketplace, budgeting can no longer serve as a company's only management system; it must integrate with and support dedicated strategy management systems, process improvement systems, and the like. In this paper, Professor Peter Horvath and Dr Ralf Sauter present what's wrong with the current approach to budgeting and how to fix it.


iXBRL: Taking stock. Looking forward

In this white paper CCH provide checklists to help accountants and finance professionals both in practice and in business examine these issues and make plans. Also includes a case study of a large commercial organisation working through the first year of mandatory iXBRL filing.