Teams Roofing Limited (01307648): administration
- Status
- Administration ended
- Administration began
- 2019-09-03
- Administrators
- Patrick Alexander Lannagan, Adam Harris
- Administrators' firm
- Mazars
- Formerly
- Warule Limited
- Incorporated
- 1977-04-07
- Location
- London
- Industry
- 43910 Roofing activities
Why it went into administration
- Cash flow / liquidity pressure
- Weather / natural events
- Sustained trading losses
From the administrators' statement
Company History, initial advice and meetings
The Company was incorporated in April 1977 as a roofing contractor and traded successfully as a family business for over 40 years. During 2019, the Company gradually fell into arrears with its creditors, predominantly due to a decline in orders, reduced profitability on some contracts and a significant dispute of over £500,000 in respect of alleged faulty work.
In August 2019, following discussions with their accountants regarding their financial position, the accountants recommended consulting an Insolvency Practitioner to discuss their options.
Administrators' statement of proposals (2019-11-14) · Companies House register