Feltonquest Turned Parts Limited (01424623): administration
- Status
- Administration ended
- Administration began
- 2019-10-16
- Administrators
- Peter John Windatt, Thomas Edward Guthrie
- Administrators' firm
- Moore Kingston Smith & Partners
- Formerly
- D.B. Turned Parts Limited
- Incorporated
- 1979-06-01
- Location
- Northampton
- Industry
- 25940 Manufacture of fasteners and screw machine products
Why it went into administration
- Creditor pressure / legal action
From the administrators' statement
The Company was incorporated on 1 June 1979 by Tony Abbott to manufacture Rivet Bushes and steel turned parts. The Company grew substantially over the years and were able to offer additional products and to a much larger customer base. Unfortunately in 2009, Tony passed away and the current directors were appointed to continue the Company.
Cash flow was originally supported by prior years of retained profit. However, the landlord at the Company’s previous premises in Luton refused to renew the Company’s lease they had had since 1979 and gave short notice to vacate the premises by Christmas 2014.
The landlord then produced a bill for dilapidations to the Company for £15,000. This severely affected the cash flow and made the Company overdrawn with the bank. On top of this, work was stopped for a number of weeks while the directors searched for a new premises meaning new orders couldn’t be started.
Administrators' statement of proposals (2019-12-13) · Companies House register