# Mcarthur Group Limited (00394222)

> Why UK company 00394222 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/00394222

- **Status:** Administration ended
- **Administration began:** 2014-05-08
- **Administrators' firm:** PwC
- **Formerly:** Mcarthur & Co.(Steel & Metal)Limited
- **Incorporated:** 1945-03-26
- **Location:** Chatham Maritime
- **Industry:** 46900 Non-specialised wholesale trade

## Why it went into administration

- Creditor pressure / legal action
- Funding withdrawn / unable to refinance
- Sustained trading losses
- Cash flow / liquidity pressure

## From the administrators' statement

The Companies were part of a group that manufactured and distnbuted a wide range of agricultural, building and fencing products. The operations were situated across the UK and freland with depots in twelve locations (three of which were not in use at the date of administration).

The business had been loss making for a number of years, partly due to the difficulties in the markets it operated in and partly due to operational inefficiencies. Performance improvements were being made through the cessation of loss making activities and operational changes, however cash pressure continued to build through the traditionally quieter winter period in late 2013.

As a result, corporate finance advisors (Shaw & Co LLP) were engaged in January 2014 to seek external investment or finance. This process resulted in the refinance of the term debt from Barclays to Tanistry (an SPV controlled by RCapital) in March 2014. Barclays continued to fund the debtor book. Further restructuring was undertaken by the Compamies following this refinancing.

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/00394222/filing-history/MzEwMzA0MzAwN2FkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/00394222

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.