Deejak Builders (Rushden) Limited (01123343): administration
- Status
- Administration ended
- Administration began
- 2011-04-15
- Administrators' firm
- Begbies Traynor
- Formerly
- B.T. & C.E. Services Limited
- Incorporated
- 1973-07-18
- Location
- Cambridge
- Industry
- 4521
Why it went into administration
- Bad debts / customer insolvency
- Competition / price pressure
From the administrators' statement
The Company was incorporated in 1972 by present director, Mr Derek Titmuss Pnor to its incorporation, Mr Titmuss had spent the previous 10 years working within the construction industry as a project manager The Company was initially funded by Derek Titmuss, but soon obtained funding wa an overdraft facility provided by Lloyds TSB Bank plc (‘the Bank")
The Company operated within a 50 mile radius from its base in Rushden, Northamptonshire and had developed a tremendous reputation in the building and construction industry working with local authonties, education authorities and it also managed to secure work with Coca Cola In recent times the Company Managed to achteve a turnover of c£30m and was abie to survive three separate recessions
Three years ago, the director and head of operations Derek Titmuss was diagnosed with cancer This resulted in him being absent from the day to day running of the Company for a 12 month penod This had a dramatic and negative impact on the Company at a time when the credit crunch and UK recession were starting to take effect on the economy House prices started to drop off at this time, which started to reduce the asset value of the Company
Administrators' statement of proposals (2011-06-13) · Companies House register