Company trading Whitegates’ franchises enters voluntary liquidation

It appears that Miresh Property Company Limited, which owns the Whitegates’ franchises in Leicester, Sileby, Syston (which was Taylors/Whitegates) and Broughton Astley, has gone into liquidation.

The appointment of a voluntary liquidator was published on 19th September by Companies House.

It appears that the total financial deficiency in the company amounts to £886,085.24

Within this figure Trade and Expense Creditors amount to £13,434.17; Employee claims amount to just £1.

The Directors’ Loan account shows £290,253.42.

HMRC is owed ££231,698.03.

Associated company loans total £359,061.58.

It is not yet known how many clients and transactions are affected.

The company has one registered director, Mitul Shashikant Gadhia, who acquired the franchises in 2017.

 

Franchisee, 27, acquires five-branch independent and takes on 35 new staff

 

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11 Comments

  1. APE

    That’s a lot of debt built up in a very short time.  Being in business can be tough but this looks to be more than just bad management.

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  2. Interested in Property

    I bet TPFG have got their MSF out of him. Also, i do not think TPFG have any area managers anymore and this shows how you lose control of your franchisees without constant oversight.

    Always sad to see a business go under though, i hope the staff find alternative positions or TPFG take over running the business until they get a Buyer.

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    1. AlwaysAnAgent

      An area manager was appointed yesterday.

      I’m sure something like this this happened in April but that may have been a different brand. Martins not Whitegates.

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  3. AgencyInsider

    HMRC owed nearly a quarter of a million? How does this happen? If I miss a PAYE or VAT payment date HMRC are all over me like a rash. Yet whenever we see stories like this they are always owed hundreds and hundreds of thousands which in most cases must have accumulated over extended periods of time. What’s the secret to using HMRC as a free funding source for a failing business?

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  4. FormerEmployee

    This is not surprising at all. Was a matter of time! Terrible place.

     

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  5. Ifticar

    How can Whitegates continue to trade with this individual? Despicable………..

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    1. FormerEmployee

      Not even the half of it! Terrible culture, management and leadership. This really isn’t a surprise.

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  6. Serry

    Must owe a fortune from all the fines for parking his battered old Range Rover actually on the pavement outside the Sileby office so no one can walk by…

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  7. Hillofwad71

    It does seem that the franchisees takes all the hit.  Ewemove being a prime example where many franchisees have quietly disappeared off the map  saddled with huge life changing  debts  and some with personal bankruptices

    Some  franchisees still  trading carrying a worrying amount of debt from year to year .Certainly the last few months have been a lifeline for some where many of the franchisees  have enjoyed a big pickup

     

     

     

     

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    1. LetItGo

      Play another record.

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