S. Dudley & Sons Limited (00464994): administration
- Status
- Administration ended
- Administration began
- 2013-04-09
- Administrators' firm
- Begbies Traynor
- Incorporated
- 1949-02-24
- Location
- Cardiff
- Industry
- 25990 Manufacture of other fabricated metal products n.e.c.
Why it went into administration
- Cash flow / liquidity pressure
From the administrators' statement
The Company was incorporated in 1949, having previously traded prior to incorporation since 1920 It employed approximately 150 staff and was one of the country's leading specialist contractors with extensive expertise in construction and bespoke architectural aluminium facade solutions The Company had established itself as a national contractor to a number of high profile retailers Since 1993, the architectural aluminium division has provided a complete design, manufacture and installation service for the building industry covering a range of sectors including heaith, education, commercial, defence and retail
The Company continued to trade successfully, achieving an annual turnover in excess of £90m and profits after tax of £1m
However, by the end of 2010, the downturn in the economic climate had significantly affected the retail sector within the construction industry As a result, contracts would be agreed on smail profit margins which were further eroded by increases in matenal and other costs In addition, particularly with the medium sized contracts, the employer would retain the last 20% payable under the contract until the final valuation was agreed and would often wish to start the next contract before the final account was paid As most of the Company's profits came from this last 20% payable, working capital was significantly affected
Administrators' statement of proposals (2013-05-31) · Companies House register