Old Town Engineering Company Limited (00870571): administration
- Status
- Administration ended
- Administration began
- 2016-08-22
- Incorporated
- 1966-02-04
- Location
- Uxbridge
- Industry
- 28490 Manufacture of other machine tools
Why it went into administration
- HMRC / tax arrears
- Loss of a key customer, supplier or contract
- Cash flow / liquidity pressure
- Creditor pressure / legal action
From the administrators' statement
The Company was incorporated on 4 February 1966 and has throughout its trading history provided specialist technical engineering services for chents in the UK and internationally. The directors at the date of our appointment were Hayley Gash, Robin Pound and Nicholas Heritage.
The Company traded from Unit 3 Quadrillion, Westmead Industrial Estate, Swindon, Wiltshire, SNS 7UL. It generally traded profitably over the years and has not previously been the subject of any insolvency proceedings, or made any arrangement with its creditors, aside from an informal time to pay arrangement with HM Revenue & Customs (“HMRC”).
In August 2015, the directors sought advice on the Company’s position and were introduced to Julie Swan of PCR. In the event, the directors were able to secure finance against unencumbered machinery to assist with cash flow and PCR were therefore not instructed at that time.
Administrators' statement of proposals (2017-03-24) · Companies House register