Deejak (Construction) Limited (01430425): administration
- Status
- Administration ended
- Administration began
- 2011-04-15
- Administrators' firm
- Begbies Traynor
- Incorporated
- 1979-06-18
- Location
- Cambridge
- Industry
- 4521
Why it went into administration
- Funding withdrawn / unable to refinance
- Weather / natural events
From the administrators' statement
The Company was incorporated in 1979 with Derek Titmuss and his two sons Jonathan and Stephen Titmuss, joining the board as directors in 1992
The Company lay dormant but commenced trading in 2005, when Derek Titmuss was approached by Mr Peter Sutton and Mr Colin Stanyon to enter in to business within the ground works sector of the construction industry, specialsing as contractors for environmental agencies The strategy was for the Company to be managed by Mr Sutton and Mr Stanyon due to their expenence and contacts, however any mayor decisions were ultimately taken by Mr Derek Titmuss An associated company, Deejak Builders (Rushden) Limited (Builders") obtained financed plant & machinery and in turn would sub-let it to the Company Builders also introduced working capital to the amount of c£600k to support the Company's cashflow Financial support was also recerved form another associated Company Deejak Properties Limited
In the first three years of trading the Company achieved a good tumover and this provided a reasonable return Three years ago Mr Derek Titmuss was diagnosed with cancer which resulted in him being absent from the Company for a 12 month penod This had a negative impact on the Company and its profitability started to dechne
Administrators' statement of proposals (2011-06-13) · Companies House register