JSMS Ltd. (01161040): administration
- Status
- Administration ended
- Administration began
- 2011-09-06
- Administrators
- Peter James Hughes-Holland, Simon James Bonney
- Administrators' firm
- RSM
- Formerly
- Jordan Site Management Services Limited; Plant Construction PLC
- Incorporated
- 1974-02-22
- Location
- Marlow
- Industry
- 4525
Why it went into administration
- Loss-making contracts / project overruns
- Competition / price pressure
From the administrators' statement
The Company provided mechanical, electrical, construction and facilities management services and traded from leasehold premises in Enth, Kent
The Joint Administrators’ initial introduction came via the Company's bankers, Lloyds Banking Group ("Lloyds") which has the benefit of a fixed and floating charge and is owed approximately £1 im
A review of the Company was initially carried out and found that the Company was expenencing increasing tevels of work in progress resulting in its working capital demands increasing This was in conjunction with a general trend towards the Company taking on lower margin work These factors combined with certain other issues resulted in the Company finding it difficult to stay within the provided overdraft facility from Lloyds Following the review RSM Tenon was Instructed to conduct a sales process with a view to selling the Company as a going concern
Administrators' statement of proposals (2011-10-26) · Companies House register