# QH1 Limited (01289110)

> Why UK company 01289110 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/01289110

- **Status:** Administration ended
- **Administration began:** 2015-10-19
- **Administrators:** Daniel Francis Butters, Clare Boardman
- **Administrators' firm:** Deloitte
- **Formerly:** Quick Hydraulics Limited
- **Incorporated:** 1976-12-02
- **Location:** Birmingham
- **Industry:** 28120 Manufacture of fluid power equipment

## Why it went into administration

- Funding withdrawn / unable to refinance

## From the administrators' statement

The Group had been experiencing a lack of headroom on Its facilities since the beginning of 2015 due to the decline in the oil & gas part of the business and was unsuccessful In securing additional facilities during March 2015 to July

Trading performance continued to decline largely as result of the depressed oil and gas sector, which has historically accounted for c 40% of the business, and a number of projects were delayed further exacerbating the Groups’ cash flow position, ultimately, exhausting the Groups’ headroom

Steps taken to remedy/turnaround

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/01289110/filing-history/MzEzNTI3MjQ0NmFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/01289110

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.