H.I. Quality Steel Castings Limited (01420683): administration
- Status
- Administration ended
- Administration began
- 2023-03-30
- Administrators' firm
- PwC
- Formerly
- ASI Castings Limited; Thames Industrial Doors Ltd; Grove Export Services Limited
- Incorporated
- 1979-05-17
- Location
- Leeds
- Industry
- 24520 Casting of steel
Why it went into administration
- Sustained trading losses
- Regulatory change or action
- COVID-19
- Rising costs / inflation
- Energy costs
- Funding withdrawn / unable to refinance
- Loss of a key customer, supplier or contract
- Pension deficit
- Competition / price pressure
- Creditor pressure / legal action
From the administrators' statement
The Companies are part of a larger group structure with many dormant or non-trading entities, and the structure is provided at Appendix A (also showing the security held by the Bank and pension scheme). The ultimate beneficiary is an individual, Stephen Patrick Murphy, by way of an 83.5% shareholding in an entity called Ryder Court Investments Limited.
Concord
Of the Companies over which we are appointed, Cancord was incorporated first on 30 September 1963. Concord sits above BAS and HIQ in the group structure (there is a solvent, dormant, intermediary holding company) and is a property holding entity.
Administrators' statement of proposals (2023-06-01) · Companies House register