Industrial & Construction Plant Limited (00560220): administration
- Status
- Administration ended
- Administration began
- 2012-07-31
- Administrators' firm
- Deloitte
- Incorporated
- 1956-01-19
- Location
- Manchester
- Industry
- 5114
Why it went into administration
- Creditor pressure / legal action
From the administrators' statement
Prior to the appointment of the Administrators, an M&A process was conducted by the Company with a view to achieving a solvent sale of the business as a going concern
Despite a robust process having been undertaken, no offers were received for the business
As a solvent sale of the business was not possible, coupled with the substantial deficit owed to the Company’s defined benefit scheme and mounting creditor pressure, the directors formed the view that in order to protect the interests of all creditors, the appointment of administrators to the Company was the most appropriate course of action
Administrators' statement of proposals (2012-09-14) · Companies House register