CragRats cashflow problems hit other businesses

Jun 12 2009 Huddersfield Daily Examiner

The Examiner has not yet been able to contact Mr Bradley or the two other directors for a company response.

Accounts with Companies House show they made a loss for the 2007 financial year amounting to £316,338 after taxation.

Their gross profit was £3,362,407 but CragRats had higher administrative expenses at £3,644,983 which means an operating loss of £282,576.

At the time CragRats had a total of 232 staff – 64 administrative, 15 management, 61 cafe bar and catering and 92 actors and the total wage and salaries bill was £2,905,648 which in addition to social security and pension costs brought the annual total to £3,172,005.

Directors emoluments were £304,199 including company pension contributions.

A spokeswoman for Ernst and Jones said: “The company has been experiencing cash flow difficulties due to tough trading conditions and has sought the protection of Administration.”

Joint Administrator, John Sumpton said: “The CragRats training business has been seriously impacted as clients look to reduce training budgets in these difficult economic times. As a result of the current order book and immediate prospects of the business, it has been necessary to close the CragRats headquarters and Cafe Bar at New Mill.

“The CragRats Brasserie is a successful operation with an excellent reputation. It will continue to trade as normal and is available for sale as a going concern.”

Interested parties should contact Trevor Oates at Ernst & Young on 0113 298 2539.