Bailey Industrial Engineering Limited (01641782): administration
- Status
- Administration ended
- Administration began
- 2022-04-11
- Administrators' firm
- Kroll
- Formerly
- Libwelsh Limited
- Incorporated
- 1982-06-08
- Location
- Birmingham
- Industry
- 25110 Manufacture of metal structures and parts of structures
Why it went into administration
- Cash flow / liquidity pressure
- Parent or group failure
From the administrators' statement
• Atthe end of March 2022, the Company was experiencing cash flow difficulties. The Group had a £300,000 overdraft with Barclays Bank Plc which was utilised across the Group.
• The Company sought to improve its short-term cash flow by seeking advance payments from one of its customers as well as seeking re-negotiated terms with the landlord.
In consideration of the financial situation of the Company, the Directors instructed Squire Patton Boggs (UK) LLP to provide advice to the Directors on their duties.
Administrators' statement of proposals (2022-05-31) · Companies House register