Blackwell Stanistreet & Co Limited (00480955): administration
- Status
- Administration ended
- Administration began
- 2012-11-16
- Incorporated
- 1950-04-14
- Location
- Altrincham
- Industry
- 43910 Roofing activities
Why it went into administration
- Loss-making contracts / project overruns
- Rising costs / inflation
- Competition / price pressure
From the administrators' statement
The Company was incorporated on 14” April 1950 John MacNeill Watson and Keith Donald Milne have been directors for over forty years Rita Boland was appomted Director on 1% May 2004 and Lestie Alan Johnstone was appointed Director on 12" September 2006
The Company initially traded as roofing contractors, but during the last twenty years has steadily expanded to increase the services available The work was done either on a nominated basis or as a direct sub-contractor for a designated main contractor, or direct to the cllent Due to the expansion, the Company was able to complete works for numerous blue chip companies and gained a good reputation in its field.
Despite this, the Company began to suffer a decline in the available work shortly after the global recession Contracts were secured, but due to the level of competitiveness to win tenders, charges were reduced, resulting in the overall profit margin available to the Company shrinking This was at a time when costs were continuing to rise
Administrators' statement of proposals (2013-01-14) · Companies House register