T.A. Boxall & Company Limited (01519047): administration
- Status
- In administration
- Administration began
- 2022-11-10
- Administrators
- Ian Mark Defty, Richard Howard Toone, Paul M Davis
- Administrators' firm
- Begbies Traynor
- Formerly
- T.A. Boxall (Engineering) Limited
- Incorporated
- 1980-09-26
- Location
- Milton Keynes
- Industry
- 43210 Electrical installation
Why it went into administration
- Creditor pressure / legal action
- Loss-making contracts / project overruns
From the administrators' statement
The creditors of the Companies began to put on pressure and at least two Statutory Demands were served. The Companies reached payment agreements with the majority of creditors but one in particular indicated its intention to present a winding up petition.
The directors met with an advisor, Mark Phillips, a licensed insolvency practitioner, to consider the way forward. Together with that advisor, the directors decided that certain companies within the group were capable of being rescued and would be able to continue trading.
However, they also decided that three companies within the group (including the parent company, TAB) were not capable of rescue, were insolvent and would require formal insolvency proceedings.
Administrators' statement of proposals (2023-01-09) · Companies House register