Independent Lift Services Limited (01765839): administration
- Status
- Administration ended
- Administration began
- 2014-02-05
- Administrators' firm
- Willams and Partners
- Incorporated
- 1983-10-31
- Location
- London
- Industry
- 33190 Repair of other equipment
Why it went into administration
- HMRC / tax arrears
- Rising costs / inflation
- Loss-making contracts / project overruns
From the administrators' statement
The Company was established in 1983 by Richard Lunn, initially operating from a garage in Barking prior to moving to Unit 3J Barlow Way, Fairview Industrial Park, Rainham, Essex Subsequently the Company's pension fund, Independent Lift Services Retirement Benefit Scheme, purchased that Unit in additton to Unit 1D which was used for storage As the Company continued to grow, the pension fund sold Unit 3J and purchased Units 2A, B & C
The Company serviced, installed, maintained and repaired lifts, with the majority of contracts carried out for Local Councils and Authorities In addition, contracts were secured with private sector clients It is estimated that the split between public and private clients is 80 20 respectively
During Richard Lunn’s time as a director, he had built up a profitable and respected Company within the industry Richard Bourke purchased a 10% shareholding in the Company dunng 1999 and Anthony Wagstaff was made Service Department Director prior to Richard Lunn’s retirement in March 2011 The business continued to trade, albert that 90% of the shareholders were no longer involved in the day to day running of the Company
Administrators' statement of proposals (2014-04-01) · Companies House register