Park Cross (Engineering) Ltd (00493581): administration
- Status
- Administration ended
- Administration began
- 2019-02-28
- Administrators
- Kerry Bailey, Andrew Graham Palmer
- Administrators' firm
- BDO
- Formerly
- E.S. Honey Limited; T.A. Components Limited; E.S.Honey Limited
- Incorporated
- 1951-03-31
- Location
- Manchester
- Industry
- 25620 Machining
Why it went into administration
- Creditor pressure / legal action
- Property / lease costs
- Pension deficit
- Competition / price pressure
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- Sustained trading losses
- Credit insurance / supplier credit withdrawn
From the administrators' statement
CERL was incorporated on 22 May 1953, CESL was incorporated on 1 February 1966 and Park Cross was incorporated on 31 March 1951.
The Companies specialised in manufacturing rolls and cylinders including lightweight carbon fibre and heat transfer rolls and also provided precision engineering and general high quality machining to an international customer base across a wide range of industries.
CERL and CESL are connected by way of common ownership and Park Cross is a wholly owned subsidiary of CERL. At Appendix 1 is a record of the names of the Companies directors and the company Secretaries together with details of their shareholdings. The Companies trading was interlinked, albeit can be distinguished as explained below.
Administrators' statement of proposals (2019-05-09) · Companies House register