Bowers & Barr,Limited (00104680): administration
- Status
- Administration ended
- Administration began
- 2016-04-25
- Administrators
- Graham Stuart Wolloff
- Administrators' firm
- Lee Business Advisory
- Incorporated
- 1909-08-23
- Location
- Great Yarmouth
- Industry
- 33140 Repair of electrical equipment
Why it went into administration
- Creditor pressure / legal action
From the administrators' statement
Bowers & Barr,Limited (Company Number 00104680) was incorporated on 23 August 1909 to acquire an electrical contracting business that was first established in 1890 in the Great Yarmouth area Latterly, the Company has traded from offices at 30A Hall Plain, Great Yarmouth where the Company owns the freehold for those premises
The present shareholders and directors, Jean Rose and Alan Frosdick, joined the Company in 1959 and 1963 respectively and were part of a management buy-out in 1992 The other members of the buy-out team had left the Company by 2009 when the present directors took full control
Having taken over the Company, the present directors found that they had to inject additional working capital as the Company struggled to cope with the effects of what was known as the Credit Crunch The losses incurred in the year to November 2009 put the balance sheet into a negative position and the directors’ financial support grew to over £575,000 to compensate for further losses in 2010, 2011, 2012, 2013 and 2015 The year to November 2014 had shown a profit of just over £75,000
Administrators' statement of proposals (2016-06-27) · Companies House register