Berck Limited (00440136): administration
- Status
- Administration ended
- Administration began
- 2018-12-20
- Administrators' firm
- Tonks of Baldwins Restructuring and Insolvency
- Formerly
- A. Berck Limited
- Incorporated
- 1947-08-02
- Location
- Birmingham
- Industry
- 25500 Forging, pressing, stamping and roll-forming of metal; powder metallurgy
Why it went into administration
- HMRC / tax arrears
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- Creditor pressure / legal action
From the administrators' statement
During the months prior to our appointment, the Company had been negotiating with two parties who had expressed an interest in acquiring the Company (as a going concern).
One party withdrew its interest citing concerns over the level of restructuring costs needed to improve the Company's financial outlook.
The Company entered into an exclusivity agreement with the second party, who initially made a modest offer for the Company's shares, conditional on compromising certain connected liabilities.
Administrators' statement of proposals (2019-02-25) · Companies House register