Mustang Joinery Limited (01544151): administration
- Status
- Administration ended
- Administration began
- 2022-05-04
- Administrators' firm
- Begbies Traynor
- Formerly
- Mustang Building Co. Limited
- Incorporated
- 1981-02-09
- Location
- Leeds
- Industry
- 16230 Manufacture of other builders' carpentry and joinery
Why it went into administration
- HMRC / tax arrears
- Sustained trading losses
- COVID-19
- Cash flow / liquidity pressure
- Creditor pressure / legal action
From the administrators' statement
Founded in 1981, the Company specialised in the manufacture of a range of bespoke window frames, staircases and door sets for local and national developers. The original shareholders were Michael Dallinson, Howard Bailey and Roy Roberts. Roy Roberts and Howard Bailey ceased to be Directors in 1999 and 2000 respectively, with the shares transferred to David Newsum and Paul Athey. By the time of our appointment, Michael Dallinson had transferred a portion of his shares to his wife, Carolyne Jean Dallinson, and Andrew Buckler had replaced David Newsum as a director.
The Company operated from freehold premises at Midland Rd, Rotherham, and employed approximately 18 employees, including two directors. The two shareholders were also required by the Company although we understand were not “hands on” in the business.
After making a small profit in 2018, the Company experienced a downturn in turnover and were loss making in 2019. Covid-19 caused this downturn to accelerate significantly, along with losing some key employees to a rival business.
Administrators' statement of proposals (2022-05-19) · Companies House register