KN Wheels Limited (00680243): administration
- Status
- Administration ended
- Administration began
- 2012-10-15
- Administrators' firm
- FRP Advisory
- Formerly
- K.N.Engineering Services Limited
- Incorporated
- 1961-01-11
- Location
- Birmingham
- Industry
- 29320 Manufacture of other parts and accessories for motor vehicles
Why it went into administration
- HMRC / tax arrears
- Cash flow / liquidity pressure
- Competition / price pressure
From the administrators' statement
The Company was incorporated on 11 January 1961 and its principal trading activity was the manufacture and sale of alloy car wheels.
The Company traded from a freehold property on Beveley Road, off Holyhead Road, Ketley, Telford, Shropshire (“freehold property”)
The Company operated a ‘time to pay’ arrangement with H M Revenue & Customs (CHMRC") which tt was able to service until June 2012. Management advised that turnover had decreased dramatically in the summer period due to a reduced level of customer orders which made it difficult to fulfil the arrangement
Administrators' statement of proposals (2012-11-29) · Companies House register