Engments Limited (00680077): administration
- Status
- Administration ended
- Administration began
- 2014-01-10
- Administrators' firm
- Baker Tilly Tax and Advisory Sennces
- Incorporated
- 1961-01-09
- Location
- Nottingham
- Industry
- 25110 Manufacture of metal structures and parts of structures
Why it went into administration
- Sustained trading losses
- Cash flow / liquidity pressure
- Competition / price pressure
From the administrators' statement
In recent years, the business has relied upon a large part of its workload from the Rail industry Historically, sales were regularly in excess of £220,000 per month when in full production
in mid 2011, orders were completed for a long running and profitable contract which meant that sales dropped in the middle part of the year to less than half the previous monthly sales Further orders were anticipated, and the business took the decision to retain its key staff in order for the new orders to be serviced This meant that the 4 or S months pending these new orders coming into production and revenue being received were loss making
Turnover fell from £4,091 503 in the year ending June 2011, to £1,621,339 for the year ending June 2012, with losses incurred Sales in the first few months of the next year's trading were poor (July, August, September, October 2012) but significant orders were won by retaining estimating and other planning staff, such that sales and production were back to break-even levels for the remainder of the year
Administrators' statement of proposals (2014-02-18) · Companies House register