Auto Electrical Services (Manchester) Limited (01718701): administration
- Status
- Administration ended
- Administration began
- 2014-08-29
- Administrators
- Stephen Gerard Clancy, Steven Muncaster
- Administrators' firm
- Kroll
- Formerly
- Cottageweb Limited
- Incorporated
- 1983-04-27
- Location
- Manchester
- Industry
- 29310 Manufacture of electrical and electronic equipment for motor vehicles and their engines
Why it went into administration
- Loss of a key customer, supplier or contract
- Competition / price pressure
- Cash flow / liquidity pressure
- HMRC / tax arrears
- Creditor pressure / legal action
- Sustained trading losses
From the administrators' statement
By early 2074, despite efforts to increase its customer base and turnover with these customers, the Company had become reliant on large volume orders specifically from the NHS These volume orders had very tight margins attached to them and where problems arose, the | profitability of these contracts diminished or in several cases become loss making
As a result of restrictions with space at the Company’s trading premises and the lack of specific labour, the Company lost the ability to keep trading with North West Ambulance Service, as this customer was moving Its operation to a new framework This significant customer and the loss of the contract resulted In a significant gap in the forecasted sales position
The Company once again began to experience creditor pressure Formal and informal agreements were re-entered into with HMRC and other trade creditors
Administrators' statement of proposals (2014-10-27) · Companies House register