Jistcourt South Wales Limited (01516922): administration
- Status
- Administration ended
- Administration began
- 2019-06-27
- Administrators
- Katrina Jane Orum, Huw Powell
- Administrators' firm
- Begbies Traynor
- Formerly
- Jistcourt Holdings Limited
- Incorporated
- 1980-09-11
- Location
- Cardiff
- Industry
- 41100 Development of building projects
Why it went into administration
- Sustained trading losses
- HMRC / tax arrears
- Loss of a key customer, supplier or contract
- Loss-making contracts / project overruns
- Funding withdrawn / unable to refinance
From the administrators' statement
The Company was incorporated in 1980 offering general construction services. It specialised in large volume maintenance and refurbishment works to social housing stock, predominantly for Local Authorities and Registered Social Landlords.
It operated across all of South Wales, establishing its base in recent years at leasehold premises in Baglan. The Company then expanded to a further leasehold facility in Bristol, following a significant contract win with Bristol City Council.
Funding from National Westminster Bank pic (‘NatWest’) was originally obtained in 1986, with NatWest providing a variety of facilities over time including loans, bonding and overdraft facilities. Robert Norman, who was appointed as a director in 1993, provided personal guarantees NatWest in relation to their lending.
Administrators' statement of proposals (2019-08-14) · Companies House register