Tectonics Limited (01474876): administration
- Status
- Administration ended
- Administration began
- 2012-11-16
- Formerly
- Polysports Limited
- Incorporated
- 1980-01-23
- Location
- Fareham
- Industry
- 31020 Manufacture of kitchen furniture
Why it went into administration
- Weak consumer demand
- Funding withdrawn / unable to refinance
- Property / lease costs
- Sustained trading losses
From the administrators' statement
21 The company produced bespoke kitchen and bedroom doors trading from leasehold premises in Caker Stream Road, Alton and from a factory in Waterlooville until 2008 At the date of appointment the company employed 35 people The company was owned by Osborne Manufacturing Limited and ultimately by director Sean Poston and his family
22 The company commenced trading in January 1980 and traded profitably for many years By 2008 the company had an annual turnover of over £4m, but with the onset of recession and a general downturn in consumer spending, turnover started to drop significantly and losses were incurred, as Illustrated below
Year ending 31st December 2011 2010 2009
Administrators' statement of proposals (2013-01-11) · Companies House register