Professional Concrete Pumping Limited (00518814): administration
- Status
- Administration ended
- Administration began
- 2014-10-14
- Administrators
- Edward Terence Kerr, Kerry Bailey
- Administrators' firm
- BDO
- Formerly
- Pochin Concrete Pumping Limited; Pochin Plant Limited; Contractors Plant (North West) Limited
- Incorporated
- 1953-04-20
- Location
- Manchester
- Industry
- 77320 Renting and leasing of construction and civil engineering machinery and equipment
Why it went into administration
- HMRC / tax arrears
- Cash flow / liquidity pressure
- Funding withdrawn / unable to refinance
- Creditor pressure / legal action
- Competition / price pressure
From the administrators' statement
Although significant progress was made to turnaround the Company and losses were significantly reduced, the Company was under increasing cash pressure.
The Company explored a number of sources of funding to improve the cash position:
3.21 The Company's working capital was largely funded by Centnc which provided an invoice discounting facility. Centric also provided a loan to the Company of £200k Centric was not in a position to provide any additional funding beyond agreed terms,
Administrators' statement of proposals (2014-12-12) · Companies House register