Noel Village (Steel Founder) Limited (01527500): administration
- Status
- Administration ended
- Administration began
- 2016-12-15
- Administrators
- Howard Smith, Jonathan Charles Marston
- Administrators' firm
- KPMG
- Incorporated
- 1980-11-11
- Location
- Leeds
- Industry
- 24520 Casting of steel
Why it went into administration
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- Weather / natural events
- Loss of a key customer, supplier or contract
- Sustained trading losses
- Competition / price pressure
From the administrators' statement
The Company was incorporated on 11 November 1980 to undertake the melting and casting of various non-ferrous metals, predominantly for valves used in the oil and gas sectors, but also servicing the nuclear and renewable energy sectors
The fall in the oil price in 2014 and 2015 resulted in the Company’s main customers reducing capital expenditure, which resulted in a fall in the Company's turnover and working capital pressure
The Company operated from two leasehold sites based in Doncaster and employed 38 members of staff at the date of our appointment
Administrators' statement of proposals (2017-02-20) · Companies House register