C.S.C. Construction Limited (01452440): administration
- Status
- Administration ended
- Administration began
- 2013-11-29
- Administrators' firm
- Deloitte
- Incorporated
- 1979-10-04
- Location
- Timperley
- Industry
- 41100 Development of building projects
Why it went into administration
- Creditor pressure / legal action
- Cash flow / liquidity pressure
From the administrators' statement
In the period immediately prior to appointment, the Company faced significant pressure from unsecured creditors A winding up petition had been served on the Company on 18 November 2013, and was due to be heard on 4 January 2014 The original petition was for c £6,000, but received further creditor support of c £30,000 The Company had no immediate means to pay off the debt In addition, several county court judgements also remained unsatisfied
A sale of one of the Company properties had been agreed in order to introduce additional funds into the Company, but the purchaser pulled out on the day of exchange (22 November 2013), and as a result the sale fell through
The Directors formed the opinion that the Company was unable to pay its debts as they fell due, and accordingly requested the Bank to appoint Administrators to the Company
Administrators' statement of proposals (2014-01-13) · Companies House register