Wooldridge Contractors Limited (01798995): administration
- Status
- Administration ended
- Administration began
- 2024-02-28
- Administrators' firm
- Quantuma
- Formerly
- Firm Foundations Limited
- Incorporated
- 1984-03-12
- Location
- Watford
- Industry
- 42110 Construction of roads and motorways
Why it went into administration
- Parent or group failure
From the administrators' statement
Nicholas Simmonds and Chris Newell of Quantuma Advisory Limited were first approached by the Company’s Directors in January 2024. A letter of engagement was subsequently issued on 29 January 2024 following various discussions. It was signed and returned on the 31 January 2024.
It was agreed that the Company was insolvent on both a balance sheet basis and on a cash flow basis, as the Company could not pay its debts as and when they fell due, without continued financial support.
The directors were asked to advise of any marketing conducted by the Company prior to approaching Quantuma Advisory Limited for advice and we were advised that none had been undertaken by the Company.
Administrators' statement of proposals (2024-05-01) · Companies House register